GUARANTEES OF FULL DIRECTORS OR MANAGERS
On October 7, 2021, General Resolution 15/2021 of the Inspección General de Justicia (IGJ) was published in the Official Gazette of Argentina. Through this resolution, the body modified the amounts of the guarantees that must be submitted by the directors of Corporations and managers of Limited Liability Companies.
Thus, this modification to the scheme establishes, on one hand, that the amount of the guarantee shall be equal for all directors and managers, and not lower that 60 percent (60%) of the amount of the corporate capital together between all the full directors or managers appointed. In turn, General Resolution 15/2021 also establishes that in no case the amount of the guarantee shall be less than – individually – $300,000 or greater than $1,000,000 for each director or manager.
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