Senate Proposes to Reform Rules Governing Family Businesses

13 March 2003 - International Law Office 13 March 2003

Andrés Monereo Velasco Abogado
Andrés Monereo Velasco passed away on 2 April 2021.
As co-founder, he was a member of the firm since its inception in 1989.
A Senate committee has proposed a major reform of the regulations on family companies. Family companies will be allowed to seek new types of financing, including investment through the issue of non-voting shares. They will also be required to draw up and register a family protocol delineating the relationship between the family company and its ownership.