On October 20th, an amendment of several dispositions to the Mexican General Corporations Law was published in the Mexican Official Gazette.

Among the most relevant amendments, it incorporated a set of rules that allow to hold partners’ and other governing bodies’ meetings remotely, by using digital, optical, or any other technological means. Companies holding virtual meetings must have the tools to facilitate their members’ communication and simultaneous participation, guaranteeing fluid interaction in deliberations and decision-making, equivalent to an in-person meeting.

Furthermore, it allowed the use of electronic signatures on the Stockholder’s meeting record, signed by the President and Secretary of the meeting.

Finally, it is set forth that the Limited Liability Companies must call for a meeting according to article 50 Bis of the Mexican Commercial Code.

We hope that the information is useful to you, and we are at your disposal to incorporate the amendments in your Company’s Bylaws and give you legal advice regarding the implementation of the digital signature in your Stockholder’s meeting records.