Statutes of a Limited Company
What are the Statutes of a Limited Company?
The statutes of a limited company are a set of rules that are established at the time of incorporating a company. These are internal rules that regulate fundamental aspects of the entity, such as its name, the identification data of the partners, the capital contributed by each of them, the decisions that require a special majority, the distribution of benefits, among others.
In summary, the statutes are the legal framework that governs the operation of the company and establish the basic rules that all partners must follow.
When to use this contract?
These types of contracts must be used from the moment the company is incorporated. That is, when the limited company is created and the entire legal process of registration and establishment is carried out. The statutes are used as a reference and guide for the operation of the company, establishing the internal rules and regulations that will govern the activity of the company and the relations between the partners.
Likewise, at Seedfy we have templates for different types of limited company statutes, depending on how the administrative bodies of each one are constituted:
- Statutes of a Limited Company with Sole Administrator.
- Statutes of a Limited Company with several Joint or Co-Administrators.
- Statutes of a Limited Company with Board of Directors.
- Statutes of a Limited Company without a defined Administrative Body.
When not to use this contract?
It is important to emphasize that these contracts are intended for limited companies and not Public limited corporations.
The statutes of a limited company include the following essential content:
- The corporate name, which must be unique and bear the denomation Limited.
- The corporate purpose, which determines the activities that make up the company.
- The registered office, where the commercial activity is carried out.
- The social capital, the shares into which it is divided, its nominal value and its correlative numbering.
- The relationship between the partners, their rights and obligations, as well as the mode of transmission of the shares.
- The distribution of profits and liquidation in case of dissolution of the company.
- The way of organizing the administration of the company, the number and duration of the administrators and their remuneration system if they have one.
- The way of deliberating and adopting agreements by the collegiate bodies of the company.
- Royal Legislative Decree 1/2010, of July 2, approving the revised text of the Capital Companies Act.
- Limited Company
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How much does it cost to make this contract with Seedfy?
Seedfy has an automated contractual model that allows you to create this contract, negotiate it and sign it, minimizing the time invested in the entire process. This automated model is free within all Seedfy subscription plans. If you want to try it, you can to generate your first contract.