Panama Law 22 of April 27, 2015 includes a number of modifications to the Commercial Code, which regulates commercial activities in Panama. One of the most important modifications introduced is the obligation to keep records of minutes and shares.
The minutes record is a document that contains the record of decisions made by shareholders and directors of a company. This requirement is designed to improve corporate transparency and accountability. Law 22 of 2015 establishes that all companies must keep a minutes record detailing the decisions made by shareholders and directors, as well as any other relevant information.
Additionally, Law 22 of 2015 also introduces the obligation to keep a shares register. This register must contain detailed information about the shares issued by the company, including the name of the holder, the number of shares, the date of issuance, and the issuance price. The shares register is an important tool for shareholders and regulators, since it allows to track the ownership of a company’s shares.
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Download Panama Law 22 of 2015: