The board of directors shall have all the powers specified in the AOA of the Company except those powers exclusively conferred upon the General Assembly under this Decree Law or the AOA of the Company. However, the board of directors may not enter into loan agreements for terms exceeding three years, sell the Company's property or business premises, mortgage the movable and immovable property of the Company, discharge debtors of the Company from their obligations, enter into amicable conciliation or agree on arbitration, unless such acts are authorized under the AOA of the Company or fall within the objects of the Company by nature. Other than those two cases, such acts shall require a Special Resolution of the General Assembly.
Interpretation and application must be checked against the official text and current version.