A commercial company, or a company in general, must be directed or administered on a day-to-day basis by an administrative body. This can either be constituted by a board of directors, or by one or more administrators, who do not constitute a board. In the case of the sole administrator, all powers and responsibilities relating to the administration of the company are entrusted to a single person, who is precisely the sole administrator.
Powers and obligations of the sole administrator
Therefore, the sole administrator decides on his own, and does not need to reach any type of agreement in relation to the company's management powers, with any other person. This is a more frequent figure than you might think, especially if it involves corporations or limited of a sole proprietorship, or, any small-sized companies, where the founder is usually the sole administrator, who is in charge of doing and undoing at his own risk and expense.
In addition to performing the tasks of administration and management of the company, the sole administrator has the power to represent the company against third parties, to acquire rights and assume obligations. Likewise, he is trained to perform transfers or take on investments. His appointment is public. as to what has to be registered the Commercial Registry, but it must not be elected by the shareholders, participants or partners. Unless otherwise specified in the statutes, it is not considered a position that has to be paid.
The duration of the position is not uniform, but depends on what is established in the Company Bylaws and the type of company in question. Even though his powers are great, they are not unlimited, since he is obliged to respond to society and to third parties for his actions.
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