Chihuahua, Chih., June 22th, 2018.
Dear Clients and Friends,
On June 14th, 2018, several additions to articles 73 and 129 of the Mercantile Corporations General Law (the “Law”), were published in the Federal Official Gazette. The objective of these additions is to oblige the companies to publish in the Electronic Systems of the Ministry of Economy (the “System”), the corresponding registry entered into the Special Partners Ledger for the limited liability companies or the Shares Registry Ledgers for the corporations.
The additions to article 73, obliges the companies to publish a notice in the System when registries and transmissions are entered into the Special Partners Ledger. Furthermore, the article states that the managers will be held personally and severally responsible for the existence and accuracy of the data registered in said ledger.
On the other hand, article 129 obliges the corporations to publish a notice in the System when registries and transmissions are entered into the Shares Registry Ledger.
The Ministry of Economy, shall secure the confidentiality of the name, nationality and domicile of the shareholder/partner referred in the notice. Except when required by an authority.
Lastly, it is essential to inform that these additions will enter into force until December 15th, 2018.