In order for a resolution to be taken at the General Board of limited companies, a sufficient number of partners must attend the meeting and a sufficient number of partners must vote positively. Said quorums are called meeting quorum and resolution quorum. The minimum number of votes required for a General Board resolution in a...
Although the limited companies are stock corporations, the company’s partners are allowed to be excluded from the partnership in order to maintain the partnership relationship in a healthy way, since the environment of trust between the partners is also important. In limited companies, it is possible to expel a partner from the company by a...
Limited company General Board resolutions may be rescinded if they violate the rules stipulated in the law or the company’s Articles of Association or the rules of good faith. In order for such decisions to be rescinded, those who have the right of action must file a suit by fulfilling the necessary conditions. By whom,...
General Board in Limited Companies The General Board in a limited company is the decision-making body formed by the presence of all the partners. In limited companies with one partner, this partner has all the powers of the General Board. The General Board convenes once or more than once a year and takes decisions on...
The governing body of a limited company is the board of directors or director. If the right to manage is given to a single person, this person is authorized in the management of the company as a director. If more than one director is elected, they form the board of directors. According to the Turkish...
Duties and Powers of the General Board in Limited Companies In a limited company, the General Board, as the decision-making body of the company, has the authority to make decisions on the issues envisgaged in the Law (Turkish Commercial Code) or the contract. The General Board is the decision-making body formed by the presence of...
A limited companies is managed by the person or persons holding the title of director. As the managing body of the company, the directors hold the authority to manage the legal entity of the company, to take the actions binding the company on behalf of the company, to conduct the company’s affairs and represent the...
In limited companies, after the General Board resolution, the will of the company in important matters related to the company is subject to certain conditions in terms of form and procedures. If a General Meeting has been held in violation of the provisions of the Law (Turkish Commercial Code and the Turkish Code of Obligations...
In limited companies, the General Board is the decision-making body of the company, which can convene at certain times of the year or whenever necessary. During the Meeting very important decisions about the company are taken by the votes of the partners and the manner of how to convene and how to take resolutions in...
In some cases, limited companies may wish to reduce the amount of capital specified in the company’s Articles of Association. This method is used when the company has capital above the company’s needs or in order to distribute profit share to the shareholders. Reducing the basic capital amount numerically is subject to a special procedure...