§ 47 Voting

(1) The determinations in respect of the company’s affairs which are subject to the shareholders’ disposition are made by passing a resolution with a majority of the votes cast.

(2) Each euro of a share grants the holder one vote.

(3) Powers of attorney must be made in text form in order to be valid.

(4) Shareholders who are to be discharged or exempted from an obligation by resolution have no voting right in this connection nor may they exercise that voting right for another. The same applies to a resolution concerning the performance of a legal transaction or the initiation or termination of a lawsuit against a shareholder.

Table of contents
Expert Notes for Legal Professionals
At this moment, a legal commentary is not yet available for this clause. We hope to help you by providing a translation of the wording of the law. Please contact us, if you would like to recommend a highly qualified author.
Previous Clause
§ 46 Duties of shareholders
Next Clause
§ 48 Meeting of shareholders
Footnotes