Development of regulation of LLC Supervisory Board

Specialists of the corporate department of Patriot.Legal law firm developed a new copy of the constituent documents, which recorded the fact of creating a new regulatory body of the legal entity – the Supervisory Board. To this end, a regulation on the Supervisory Board was developed, which regulated:

• legal status and competence of the Supervisory Board;
• the term of office and composition of the newly formed governing body;
• the procedure for the election and termination of powers of members of the Supervisory Board;
• rights, duties and responsibilities of members of the Supervisory Board;
• meeting of the Supervisory Board and decision-making procedure;
• remuneration and compensation payments to members of the Supervisory Board.

Such detailed regulation of the activities of the new management body allowed the owners of the company to protect their own corporate rights as much as possible and created an effective mechanism for monitoring the activities of the executive body.