1- What are the authorizations of general assemblies that cannot be transferred incorporates?
Authorizations of general assemblies that cannot be transferred incorporates are as follows;
1.1- Changing company’s charter,
1.2- Appointment and making redundant of directors,
1.3- Appointment and making redundant of overseers,
1.4- Confirming year and financial report and annual activity report,
1.5– Making decision regarding dividend and detecting dividend share,
1.6- Deciding directors wages and discharges,
1.7- Confirming join stock shares,
1.8- Applying to court to dismiss one of the shareholder from employment,
1.9- Giving authority to directors regarding acquisition of property ,
1.10- Dissolution of the company,
1.11- Making decisions regarding the subjects proposed by the directors or giving authorities to general assembly by law or company’s agreement.
2- WHAT ARE THE AUTHORIZATIONS OF GENERAL ASSEMBLIES THAT CANNOT BE TRANSFERRED DESPITE OF FORESEEN IN COMPANY’S CHARTER?
Below articles are the nontransferable authorizations of general assembly if foreseen in company’s charter.
2,1- Confirming director’s operations despite of corporate charter’s necessity,
2,2- Deciding on preemption, reuptake, and using the right to purchase,
2,3- Deciding on right to mortgage over capital share,
2,4- Publishing internal directive regarding deeds
2,5- Allowing to the transactions of the shareholders or directors which are incompatible with dependence on company and / or with the prohibition of competition according to Turkish Trade Law, article number 4.
2.6- Making redundant to a shareholder because of the foreseen reasons in the corporate’s charter.
Source: Turkish Trade Law
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