Clipping of news on Brazilian Culture, Law and Citizenship
07/10/2014
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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SAO PAULO - After inform the administrator and read the contract carefully, you finally decided to join a consortium. Now as an active participant, it is important that you know the function of the Assemblies of the group.
On a monthly basis, meetings of consortia operate similarly to those of condominiums buildings form. It is through them that all group participants inform about news of the group and come together to make decisions. In the consortia system there are three types of assemblies as detailed below.
General Assembly constitution
Many people do not know, but a group of consortium shall be considered constituted on the date of the first inaugural meeting, which is called assembly constitution.
At this meeting the manager promotes the election of three consortium members, to act as unpaid representatives of the other participants. It is important to note that these representatives may not have been contemplated and, if so, they should be replaced at the next meeting.
It will be up to them to oversee the actions of the Administrator, prepare document with the name and address of all partners (the same should be available for consultation by other participants) and, when necessary, submit notarized document formalizing the dissent of some intercropped with disclosure.
The minutes of such meeting shall be the registered name and address of the responsible for the external audit should be contracted by the consortium. Failure to observe these and other procedures contained in the Central Bank gives the consortium the right to withdraw from the consortium there, getting back what they have already paid, with monetary updating.
Ordinary general meeting
After assembly of the constitution, every month will be held an Ordinary General Meeting (AGM). This meeting is mandatory since it is here that the participants will be informed about the achievements of the group, which includes disclosure of participants contemplated.
Also it happens contact the administrator with the consortium, which can answer questions about the progress of the group, and other developments in the provision. For it to be performed, it is not necessary that all partners are present.
As the laws of consortia allows the administrator to speak on behalf of the consortium members absent, the best way to ensure your rights is to participate in all meetings.
Extraordinary general meeting
This type of meeting is convened to resolve any issues that may arise along the consortium. It serves for the determination regarding the extension of the term of the consortium of potential payment delays, the dissolution of the group, replacing the well and others.
For intercropping own cause the notice convening the meeting is necessary that 20% or 30% of the group participants accept. Since then, the Administrator will have five days to accomplish it.
The notice convening the extraordinary general meeting shall be made by letter or telegram notificatória with up to eight days in advance, stating date, time and venue of, as well as the issues to be discussed.
Source: Msn.com
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This article was translated by an automatic translation system, and was therefore not reviewed by people.