"Addition of Several Provisions in Regard to the Partners and Shareholders´ Records of the Commercial Corporations and the Electronic System of the Ministry of Economy"
On June 14, 2018, the Decree was published in the Federal Official Gazette (“DOF”); by which diverse provisions are added to the General Law of Commercial Corporations, (the “Decree”) whereby the articles 73 and 129 of the General Law of Commercial Corporations (“LGSM”) were reformed, thus making additions in matters of Capital Stock Increase
The article 73 of the LGSM, set forth that the Limited Liability Companies (“S. de R.L.”) shall have a special Partners Book, whereby shall register the name and address of each one, indicating their contributions, and the transfer of Partnership Interest.
It’s worth mentioning that, with the changes of the Decree, the aforementioned registration shall only be effective when a notice is published in the Electronic System set forth by the Ministry of Economy (the System”).
Likewise, with the Decree, the Stock Corporations (“S.A. de C.V.”) shall publish the changes made in the Shareholders’ Registry of the Company, through The System.
The information published in the System, such as name, nationality and address of the shareholders shall be confidential, except in case the prosecuting or administrative authorities request the information in the exercise of their duties.
The Decree entered in force last December 17, 2018.