In a French SARL (limited company) , the rule is that a partner has as many votes as shares; we apply the rule of proportional distribution in proportion to the capital held.
The right to vote
Any person holding company shares or shares has voting rights attached to these shares or shares.
In France for a SARL, the rule is that a partner has as many votes as shares; we apply the rule of proportional distribution in proportion to the capital held.
The right to vote is an individual prerogative of the partner, but this right is not absolute.
The right to information
This right includes:
the right to communicate social documents with the possibility of being assisted by an expert;
the right to communicate documents during general meetings or written consultations;
the management report, the annual accounts and the inventory drawn up by the manager (and by the sole partner if he is a manager), which will then be approved by the partners during the annual AGM ruling on the company accounts and the allocation of results.
CASE OF EURL
The sole shareholder must approve these documents, thus allowing him to control the manager if the latter is a third party.
If the sole shareholder is a manager, he must establish them, because this allows him to establish proof of corporate decisions and so that he does not confuse his personal assets with those of the company.
However, the procedure for approving the accounts has been simplified: when the sole shareholder is the manager, the procedure for approving the accounts is unnecessary: the submission to the RCS, within 6 months of the close of the financial year, of the audit report management, inventory and duly signed annual accounts, is equivalent to approval of the accounts.
The conditions for approval of accounts in the EURL have once again been simplified: now the sole associated manager is exempt from having to enter in the register of decisions the receipt for filing the accounting documents in the graft. In addition, the obligation to file the management report with the registry has been removed. From now on, the mere submission of the inventory and annual accounts constitutes approval of the accounts.
However, the preparation of the management report remains mandatory. Any interested party who requests to consult it at the head office must be able to have access to it.
The partners may, at least twice per financial year, ask written questions to the manager on any fact likely to compromise the continuity of the operation.
The partner may also request management expertise.
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