Law 30-12-1885

Original Language Title: Ley 30-12-1885

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law of December 30

ANONIMAS.†"Tax to be paid: those that must be considered as such: fine A which do not constitute your directory with legal domicile in the country: officials prohibited from being Member of the directories.

GREGORIO PACHECO

CONSTITUTIONAL PRESIDENT OF THE REPAsBLICA

For how much, the national congress has sanctioned the following law:

THE NATIONAL CONGRESS,

DECCRETA:

ArtA-ass 1.A ° All society with jiro

" The mortgage banks will pay six percent, and those of issuance, deposits, discounts, etc., will satisfy eight percent.

2.A ° They will be considered to be only societies, even if they were constituted under another name, those that are by their nature; this is that they lack social signatures, which are managed by a directory, whose actions are transferable without He gave the consent of the society, and they will be with limited liability capital.

ArtA-culo 3.A ° The companies that have established themselves on interests based in Bolivia, are obliged to constitute their directory with legal domicile in the country, and the already established ones will have it within six months of the The enactment of this Law.

ArtA-article 4.A ° No society is allowed to be allowed to question as a legal person before the courts and other public officials, at the time of their legal constitution, have expired the six months, The article refers to the previous article, without prejudice to a fine of 1,000 to 10,000 Bs.

ArtA-ass 5.A ° The initiators and founders of companies shall be required to keep their shares, in the number that determine the statutes, to be untransferable, up to six months from the constitution of the company. The presidents, members and secretaries of the boards of such companies, shall not transfer their shares in the number that

are the statutes, within the period of their term of office, and six months after the end of the period. The titles shall be deposited in the company's box under the responsibility of the directory, marked with a stamp indicating their inimilitability.

ArtA-article 6.A ° The majistrados, the prosecutors, the jentes of the executive branch and The directors and administrators of the issuing banks, depending on their number and discounts, are prohibited from forming part of the directory of companies.

ArtA-ass 7.A ° For the purposes of Article 5.A of this law, founding members are reputed to have invited the subscription of shares.

ArtA-article 8.A ° The industrial companies shall publish n annually the balance of its operations.

Communal-to the executive branch.

Session room.

La Paz, December 24, 1885.

M. Baptista. †" Isaac Tamayo.

T. Baldivieso†"senator secretary

DA maso Sanchezaâ€" deputy secretary.

Sabino Pinilla†" deputy secretary.

FOR TANTO, he enacted it so that it has and will comply as law of the republic.

House of government in La Peace, 30 December 1885.

G. PACHECO.†" D. Calbimonte.