of April 25, 2019 No. ZR-19
About entering of amendment and change into the Law "About Limited Liability Companies"
Accepted by National Assembly of the Republic of Armenia on April 19, 2019
Article 1. Article 24 of the Law of October 24 2001 ZR-252 "About limited liability companies" (further - the Law) to add with part 4 following of content:
"4. The profit is shared within year after decision making about profit distribution.".
Article 2. To state part 2 of article 38 of the Law in the following edition:
"2. If in the company council was created, then extraordinary general meeting is convened by the decision of council on own initiative, upon the demand of the executive body of the company or the participant (participants) owning at the time of submission of demand at least 10 percent of voting shares of the company in terms of money. If in the company council is not created, extraordinary general meeting is convened by executive body of the company on own initiative or upon the demand of the participant (participants) owning at the time of submission of demand at least 10 percent of voting shares of the company in terms of money.
In case of convocation of extraordinary general meeting upon the demand of the participant (participants) owning at the time of submission of demand at least 10 percent of voting shares of the company in terms of money form of convocation and the agenda of meeting establishes (establish) the participant (participants) who imposed requirement about its convocation.
If in time, the specified in the requirement, competent authority does not make the decision on convocation of extraordinary general meeting or makes the decision on refusal in its convocation, then persons which imposed requirement about convocation of meeting can convene extraordinary general meeting.".
Article 3. The provision of article 1 of this Law extends to the decisions on dividend payout made later entries into force of this Law.
Article 4. This Law becomes effective next day after its official publication.
President of the Republic of Armenia
A. Sargsyan
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