Chihuahua, Chih., January 9th, 2018.
Dear Clients and Friends,
As a result of the services provided by the corporate practice area of this law firm, we kindly remind you of the importance of keeping updated your Company´s Corporate Records (ledgers) as a result of any relevant accounting transactions, this pursuant the General Law for Mercantile Corporations.
As an example of the above mentioned we can refer to profit allocations and contributions for future capital increases. Today we will discuss the latter, due to the fact that when the Shareholders´ General Meeting does not issue an accord supporting that contribution, said movement could be considered as company´s liability due to the fact that there is no legal record that supports said contribution as part of the social capital of the company, this has been confirmed through the Financial Information Standards and by the authorities latest criteria.
As a result of the herein informed we emphasize on the importance of maintaining an open communication with your accountants and lawyers, in order that your company has all of the necessary corporate records to support any accounting movements, diminishing possible contingencies that may arise from audits, avoiding inconsistencies between your Company´s accounting and corporate records.
For further information or any question, please reach us at contacto@iclmx.com