Commercial Companies Law

Article 88 — Article (88) Appointment of Supervisory Board

Part Three: Limited Liability Company · Chapter Two: Management of the Company

1. If the number of the partners exceeds fifteen [15], the partners shall appoint a supervisory board consisting of at least three partners. They shall be appointed for a [3] three-year term of office beginning on the issuance date of the appointment decision. The General Assembly may reappoint such partners when their term of office expires or may appoint other partners in their place. Members of the supervisory board may be removed at any time for good cause by the General Assembly. 2. Non-partner managers may not vote on the appointment or removal of members of the supervisory board.

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