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ARTICLE · 19 APRIL 2017

Corporate Structure In LLC

Kosta Legal
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This brief summary outlines the key provisions of the Uzbek Law on Limited and Additional Liability Companies No. 310-II of 6 December 2001 with respect to a corporate governance structure of limited and additional liability companies ...

UzbekistanCorporate/Commercial Law
Kosta Law Firm
Kosta Law Firm

This brief summary outlines the key provisions of the Uzbek Law on Limited and Additional Liability Companies No. 310-II of 6 December 2001 (the 'Law') with respect to a corporate governance structure of limited and additional liability companies (the 'Company') and competencies of each of the corporate governing bodies.

Pursuant to Chapter IV of the Law, the Company may have the following corporate governing bodies:

General Meeting of Participants the supreme governing body consisting of participants or their representatives;
Supervisory Board may be established within the Company at the discretion of participants. Due to uncertainty in the Law, there is a presumption that the Supervisory Board must be established when the book value of Company's assets exceeds UZS 1 bln.

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