The general meeting is the supreme governing body of a Swiss company limited by shares. Some German AGs have management boards which determine their own remuneration, but that situation is now relatively uncommon. The management board directly runs the company, but its members may be removed by the supervisory board, which also determines the management board's compensation. The supervisory board is generally controlled by shareholders, although employees may have seats, depending on the size of the company. German AGs have a "two-tiered board" structure, consisting of a supervisory board ( Aufsichtsrat) and a management board ( Vorstand). Article 950 specifies that the business name must indicate the legal form. In Switzerland, the Company Limited by Shares ( Aktiengesellschaft in German, société anonyme in French, società anonima in Italian, societad anonima in Romansh) is defined in Title Twenty-Six of the Code of Obligations, Article 620. Since the German commercial law (§ 19 Handelsgesetzbuch) requires all corporations to specify their legal form in their name, in order to inform the public of the limits on their liability, all German (required by § 4 Aktiengesetz) and Austrian stock corporations include Aktiengesellschaft or AG as part of their name, frequently as a suffix. AktG "shares law") or the Austrian Aktiengesetz (abbr. In Germany and Austria, the legal basis of the AG is the German Aktiengesetz (abbr. GmbH or a cooperative) are called Anteile (parts-of) rather than Aktien. Shares in other types of German companies (e.g. In German, the use of the term Aktien for shares is restricted to Aktiengesellschaften. English translations include share company, or company limited by shares, or joint-stock company. The German word Aktiengesellschaft is a compound noun made up of two elements: Aktien meaning an acting part or share, and Gesellschaft, meaning company or society. Société à responsabilité limitée (SARL)Įxample of an Aktie, with a nominal value of 1,000 ℛℳ.Gesellschaft mit beschränkter Haftung (GmbH).Limited liability limited partnership (LLLP).Scottish charitable incorporated organisation (SCIO).Charitable incorporated organisation (England and Wales) (CIO).
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