Holding the annual meeting of the LLC participants

Legal Digest News
Acsour reminds you of the need to hold a general meeting of the participants of a Limited liability Company in 2024.

According to the requirements of the Federal Law dated February 8, 1998, No. 14-FZ, from March 1 to April 30, 2024, it is necessary to hold a regular general meeting of participants of a Limited Liability Company (LLC).

Notification of such a meeting must be sent to the participants no later than 30 days before it is held. All decisions of the LLC participants in the framework of face-to-face voting and the list of those present at their adoption must be notarized. However, other ways of confirming participation are possible when such methods are fixed in the Charter.

The main issue to be resolved at the meeting is the approval of the annual results of the LLC’s activities (annual report and annual balance sheet). Additionally, the director has the right to include other issues on the agenda that fall within the competence of the general meeting of LLC participants, for example:

  • election of the audit commission, if its formation is provided for by the charter of the Company or is required by law
  • election of the Board of Directors
  • approval of the auditor, if required by law
  • approval of large transactions
  • distribution of net profit, etc.

Moreover, additional issues on the agenda may be proposed by the participants of the LLC, for this they must send such proposals to the LLC 15 days before the meeting.

For illegal refusal to convene or evasion from convening a general meeting of LLC participants, as well as for violation of legal requirements for the procedure for preparing and holding such a meeting, administrative liability is provided under Article 15.23.1 of the Administrative Code of the Russian Federation:

  • for officials — a fine of 20,000 — 30,000 rubles or disqualification for up to 1 year;
  • for legal entities — a fine of 500,000−700,000 rubles.

For questions about the preparation, conduct and documentation of the general meeting of LLC participants, please contact the legal department of Acsour.