THE CHANGE OF THE LEGAL REPRESENTATIVE 

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Changing the contents of business registration is a real demand for being more favorable in business operations. The certificate of business registration shall be changed as changing the legal representative. The new legal representative may be one of the remaining members or shareholders or an outsider who does not have an amount of the contributed capital or the stocks in the company. 

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The relevant legislation regulation 


1 The Member council or the Chairman appoints 


The Member council or the Chairman appoints or hires a Director or a General director for a term not exceeding 05 years to run the daily business operations of the company. The Director or General Director is liable to the law and Member council or the Chairman of the company regarding implement of his rights and obligations. Chairman of the Member council and other members of the Member council or Chairman of the company can be the Director or the General Director unless the law and the Company have otherwise provisions in company’s charter. 


2 The Director or the General Director has following right and obligations 


a) To organize the implementation of decisions of the Member council or the Chairman of the company; 

b) To decide on matters in relation to day-to-day business operations of the company; 

c) To implement the business and investment plans of the company; 

d) To stipulate rules on the internal management of the company; 

e) To appoint, exempt and dismiss the managers in company except those are appointed and dismissed by Member council or the Chairman of the company; f) To Sign contracts on behalf of the company except the contracts are signed by the Chairman of the Member council or Chairman of the company; 

g) To suggest a plan of organization structure of the company; 

h) To submit the report of annual finance balance to Member council or the Chairman of the company; 

i) To suggest a plan of profits distribution or handle loss in business; 

j) To recruit the employees; 

k) Other rights and obligations were stipulated in the Company’s charter and labor contract signed with the Director or General Director signed with the Chairman of the Members board or the Chairman of the company. 


3. The Director or General Director must have the following standards and conditions: 


a) There is a sufficient capacity of civil act and not subject to the provisions of clause 2, Article 18 of this Law. 

b) There is professional qualification and practical experience in business management of the company, if the Company's charter does not have otherwise provisions. 


The documents 


- Certificate of business registration 

- Identity card or passport of the new Legal Representative 


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