Notice of the CCRCS: Can an SAS declare two chairs?
lun., 27 janv. 2014 07:24:00 +0000
Notice no. 2013-027 of the Coordination Committee at the Trade and Companies Register (CCRCS) has indicated that for simplified joint stock companies (SAS), joint chairmanship is ruled out.
Articles L. 227-5 through L. 227-12 of the Commercial Code, which are focused on organisational management of simplified joint stock companies, set forth the fundamental standards for company representation, manager liability, domains reserved for decisions by member and conventions between the company and managers. Articles L. 227-1 et seq of the same Code do not make provision for the possibility to appoint several chairmen.
The CCRCS has therefore indicated that representation of a simplified joint stock company, pursuant to law, can only be conferred to a sole and exclusive chair. Two chairmen cannot be appointed, or declared as such with the Trade and Companies Register (RCS).