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The board of members is the highest decision-making body in limited liability companies or partnerships. The board of members has a role in making strategic decisions, monitoring business activities and ensuring the rights of members. This article will help customers understand the role of the board of members to help the company operate more effectively, maintain transparency in management, and build a solid foundation for sustainable development.
Firstly, for LLCs with two or more members
According to the provisions of Clause 1, Article 55 of the Law on Enterprises 2020, the Board of Members is the highest management body in the company, responsible for deciding important issues related to the company’s operations, such as development strategy, profit distribution, and major financial decisions.
Board members include:
Second, for one-member limited liability companies
For single-member LLCs, it is not required to have a Board of Members. Depending on the owner’s decision, they will choose an organizational structure with a Board of members or not.
Pursuant to Clause 1, Article 80 of the Law on Enterprises 2020, the structure of the Board of Members of a single-member LLC includes:
According to the provisions of Clause 2, Article 55 of the Law on Enterprises 2020, the role of the Board of Members of a LLC with 2 or more members is as follows:
According to the provisions of Article 80 of the Law on Enterprise 2020, the Board of Members of a single-member limited liability company has the following roles:
The rights and obligations of the Board of Members of a LLC with two or more members are specified in Clause 2, Article 55 of the Law on Enterprises 2020, which stipulates the types of contracts and transactions that must be accepted by the Board of Members. Specific agreements are as follows:
For a one-member limited liability company, transactions transferring part or all of the company’s charter capital can be approved by members.
Long Phan specializes in providing consulting and support services on establishing a board of members of a LLC with 2 or more members, including the following services:
Long Phan with a team of experts has many years of experience in the field of consulting and supporting the establishment of Board of Members for businesses. We believe that we will provide customers with the most dedicated and effective consulting and support services. If you need advice on the establishment, organization and operation of the Limited Company Board of Members, please contact us via the hotline: 0906735386 for timely support.
Note: The content of the articles published on the website of Long Phan Investment Consulting Company is for reference only regarding the application of legal policies. Depending on the time, subject, and amendments, supplements, and replacements of legal policies and legal documents, the consulting content may no longer be appropriate for the situation you are facing or need legal advice on. In case you need specific and in-depth advice according to each case or incident, please contact us through the methods below. With our enthusiasm and dedication, we believe that Long Phan will be a reliable solution provider for our clients.
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