The Saeima has adopted and the President promulgated the following laws: the law «on amendments to the Corporations Act «on» to make the corporations» (the Republic of Latvia Supreme Council and Government Informant, 1993, 24/25; The Saeima of the Republic of Latvia and the Cabinet of Ministers rapporteur, 1994, 3) follows: 1. Article 20: make a part 3 as follows: «3. minimum formation capital bank holding companies have 2 million lats, insurance stock companies – LVL 100000, stock corporations: 25000 dollars, lombard public company — 10000 lat, the other corporations — 500 lats.»;
express part follows: «5. registered share capital minimum size bank corporations is 3 million lats, insurance stock companies – LVL 500000, stock and share companies-lombard 50000 dollars, other corporations — 25000 dollars.»
2. Express article 66 the ninth subparagraph by the following: «9. each year, the general meeting of shareholders shall decide on the company's dismissal of Council members or abolition of post.»
3. Express article 91 the fourth paragraph by the following: ' 4. Any shareholder may pay their respective shares of the share capital of the company shares, while not satisfied the creditors, as well as other requirements prescribed by law and order. "
Transitional provisions 1. registered bank holding companies, the minimum share capital of the Treaty to review the 1995 approval must reach 1000000 dollars, but to review the 1997 approval — 2 000 000 lats.
2. With the entry into force of this law shall lapse at the Cabinet Regulation No 20 «on amendments to the law «About the company»» (the Republic of Latvia Saeima and the Cabinet of Ministers rapporteur, 1994, 3).
The law adopted by the Parliament of 28 July 1994.
The President g. Ulmanis in Riga on 18 august 1994.