The main management structure of the company in Romania is the general meeting of associates / shareholders. The constitutive act establishes the rules for convening and adopting decisions and whether the exercise of the vote can be delegated by special mandate by the associate / shareholder who cannot take part in the meeting. In the limited liability company, each shareholder entitles the holder to one vote in the respective meeting.
The general meeting of associates has the following main obligations:
✓ to approve the annual financial statement and to establish the distribution of the net profit.
✓ to appoint the administrators and the censors, to revoke / dismiss them and to discharge them, as well as to decide to contract the financial audit, when it is not obligatory, according to the law;
✓ to decide the pursuit of the administrators and censors for the damages caused to the company, designating also the person in charge to exercise it;
✓ to modify the constitutive act.