Last October 20, an amendment to the General Law of Mercantile Corporations (the "Law") was published in the Official Gazette of the Federation, which grants full validity to the use of telematic means for the holding of Meetings of Partners or Shareholders, as well as of the Administrative and Board of Directors of mercantile corporations.

Therefore, the following is established:

• The deeds or constitutive policies of the mercantile companies may contemplate that the Meetings of Partners or Shareholders and Board of Directors may be held in person or by electronic, optical means or any other technology.
• It shall not be understood that a Shareholders' Meeting is held outside the corporate domicile by the use of electronic, optical or any other technology.
• The calls for General Meetings must be made by means of the publication of a notice in the electronic system established by the Ministry of Economy. 
• The minutes of the General Shareholders' Meetings will be recorded in the respective book and must be signed either by handwritten or electronic signature.

It is important to point out that the amendment regarding the obligation to publish the calls for General Meetings in the electronic system of the Ministry of Economy becomes in force on April 20 (twenty), 2024 (two thousand and twenty-four).

On the other hand, the other aforementioned provisions have already entered into force.

Therefore, if your company intends to hold virtual Meetings and Sessions, we recommend you to amend the bylaws to add such possibility.

At VILA we are specialists in providing corporate advice to your company, to carry out the reform of your bylaws in accordance with the reform of the Law.

We remain at your disposal for any advice or doubt related to the present:

For more information please contact:

Frida Enríquez

frida.enriquez@vila.com.mx