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CompanyLawofthePeople'sRepublicofChina
【Title】CompanyLawofthePeople'sRepublicofChina(2013Amendment)[Effective]
CLI.1.218774(EN)
Dateissued:12-28-2013
Issuingauthority:StandingCommitteeoftheNationalPeople'sCongress
DocumentNumber:OrderNo.8ofthePresidentofthePeople'sRepublicofChina
CompanyLawofthePeople'sRepublicofChina
(AdoptedattheFifthSessionoftheStandingCommitteeoftheEighthNationalPeople'sCongressonDecember29,1993;amendedforthefirsttimeinaccordancewiththeDecisiononAmendingtheCompanyLawofthePeople'sRepublicofChinaadoptedatthe13thSessionoftheStandingCommitteeoftheNinthNationalPeople'sCongressonDecember25,1999;amendedforthesecondtimeinaccordancewiththeDecisiononAmendingtheCompanyLawofthePeople'sRepublicofChinaadoptedatthe11thSessionoftheStandingCommitteeoftheTenthNationalPeople'sCongressonAugust28,2004;Revisedat18thSessionoftheStandingCommitteeoftheTenthNationalPeople'sCongressonOctober27,2005;andamendedforthethirdtimeinaccordancewiththeDecisiononAmendingSevenLawsIncludingtheMarineEnvironmentProtectionLawofthePeople'sRepublicofChinaadoptedattheSixthSessionoftheStandingCommitteeofthe12thNationalPeople'sCongressonDecember28,2013)
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目錄
ChapterIGeneralProvisions
4
ChapterIIEstablishmentandOrganizationalstructureofALimitedLiabilityCompany
9
Section1Establishment
9
Section2OrganizationStructure
1
2
Section3SpecialProvisionsonOne-personLimitedLiabilityCompanies
1
8
Section4SpecialProvisionsonWhollyState-ownedCompanies
1
9
ChapterIIITransferofStockRightofALimitedLiabilityCompany
2
1
ChapterIVEstablishmentandOrganizationalstructureofAJointStockLimitedCompany
2
3
Section1Establishment
2
3
Section2Shareholders'Assembly
2
9
Section3TheBoardofDirectorsandManager
3
1
Section4BoardofSupervisors
3
4
Section5SpecialProvisionsontheOrganizationalstructureofAListedCompany
3
5
ChapterVIssuanceandTransferofSharesofAJointStockLimitedCompany
3
6
Section1IssuanceofShares
3
6
Section2TransferofShares
3
8
ChapterVIQualificationsandObligationsoftheDirectors,SupervisorsandSeniorManagersofACompany
4
0
ChapterVIICorporateBonds
4
3
ChapterVIIIFinancialAffairsandAccountingofACompany
4
5
ChapterIXMergerandSplit-upofCompany;IncreaseandDeductionofRegisteredCapital
4
7
ChapterXDissolutionandLiquidationofCompany
4
9
ChapterXIBranchesofForeignCompanies
5
1
ChapterXIILegalLiabilities
5
3
ChapterXIIISupplementaryProvisions
5
6
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ChapterIGeneralProvisions
Article1ThisLawisenactedforthepurposesofregulatingtheorganizationandoperationofcompanies,protectingthelegitimaterightsandinterestsofcompanies,shareholdersandcreditors,maintainingthesocialisteconomicorder,andpromotingthedevelopmentofthesocialistmarketeconomy
Article2Theterm"company"asmentionedinthisLawreferstoalimitedliabilitycompanyorajointstockcompanylimitedsetupwithintheterritoryofthePeople'sRepublicofChinaaccordingtotheprovisionsofthisLaw.
Article3Acompanyisanenterpriselegalperson,whichhasindependentlegalpersonpropertyandenjoystherighttolegalpersonproperty.Itshallbeartheliabilitiesforitsdebtswithallitsproperty.
Foralimitedliabilitycompany,ashareholdershallbeliableforthecompanytotheextentofthecapitalcontributionsithaspaid.Forajointstocklimitedcompany,ashareholdershallbeliableforthecompanytotheextentofthesharesithassubscribedto.
Article4Theshareholdersofacompanyshallbeentitledtoenjoythecapitalproceeds,participateinmakingimportantdecisions,choosemanagersandenjoyotherrights.
Article5Whenconductingbusinessoperations,acompanyshallcomplywiththelawsandadministrativeregulations,socialmorality,andbusinessmorality.Itshallactingoodfaith,acceptthesupervisionofthegovernmentandgeneralpublic,andbearsocialresponsibilities.
Thelegitimaterightsandinterestsofacompanyshallbeprotectedbylawsandmaynotbetrespassed.
Article6Toestablishacompany,anapplicationforestablishmentregistrationshallbefiledwiththecompanyregistrationauthority.IftheapplicationmeetstheestablishmentrequirementsofthisLaw,thecompanyregistrationauthorityshallregisterthecompanyasalimitedliabilitycompanyorjointstocklimitedcompany.IftheapplicationdoesnotmeettheestablishmentrequirementsofthisLaw,itshallnotberegisteredasalimitedliabilitycompanyor
jointstocklimitedcompany.
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Ifanylaworadministrativeregulationprovidesthattheestablishmentofacompanyshallbesubjecttoapproval,andrelevantapprovalformalitiesshallbegonethroughpriortotheregistrationofthecompany.
Thegeneralpublicmaygotoacompanyregistrationauthoritytosearchandconsulttheregistrationinformationfiledbyacompanyandtheauthorityshallprovidetheresearchservicesforthepublic.
Article7Foralawfullyestablishedcompany,thecompanyregistrationauthorityshallissueacompanybusinesslicensetothecompany.Thedateofissuanceofthecompanybusinesslicenseshallbethedateofestablishmentofthecompany.
Thecompanybusinesslicenseshallstatethename,domicile,registeredcapital,businessscope,legalrepresentative,etc.
Ifanyoftheitemsasstatedinthebusinesslicenseischanged,thecompanyshallmodifytheregistrationandthecompanyregistrationauthorityshallreplaceitsoldbusinesslicensebyanewone.
Article8AlimitedliabilitycompanyestablishedaccordingtothisLawshallincludethewordsof"limitedliabilitycompany"or"limitedcompany"initsname.
AjointstocklimitedcompanyestablishedaccordingtothisLawshallincludewordsof"jointstocklimitedcompany"or"jointstockcompany".
Article9AlimitedliabilitycompanytobechangedintoajointstocklimitedcompanyshallsatisfytherequirementsasprescribedinthisLawforjointstocklimitedcompanies.AjointstocklimitedcompanytobechangedintoalimitedliabilitycompanyshallconformtotheconditionsasprescribedinthisLawforlimitedliabilitycompanies.
Ineitheroftheaforesaidcases,thecreditor'srightsanddebtsofthecompanypriortothechangeshallbesucceededbythecompanyafterthechange.
Article10Acompanyshallregarditsmainofficeasitsdomicile.
Article11AcompanyestablishedaccordingtothisLawshallformulateitsbylawthatarebindingonthecompany,
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itsshareholders,directors,supervisorsandseniormanagers.
Article12Acompany'sbusinessscopeshallbedefinedinitsbylawandshallberegisteredaccordingtolaw.Thecompanymaychangeitsbusinessscopebymodifyingitsbylaw,butitshallgothroughtheformalitiesformodifyingtheregistration.
Ifthebusinessscopeacompanycoversanyitemsubjecttoapprovalpursuanttoanylaworadministrativeregulation,approvalshallbeobtainedaccordingtothelaw.
Article13Thelegalrepresentativeofacompanyshall,beassumedbythechairmanoftheboardofdirectors,actingdirectorormanageraccordingtothecompany'sbylawandshallberegisteredaccordingtolaw.Ifthelegalrepresentativeofthecompanyischanged,thecompanyshallgothroughtheformalitiesformodifyingtheregistration.
Article14Acompanymaysetupbranches.Tosetupabranch,thecompanyshallfilearegistrationapplicationwiththecompanyregistrationauthorityandshallobtainabusinesslicense.Abranchshallnotenjoythestatusofanenterpriselegalpersonanditscivilliabilitiesshallbebornbyitsparentcompany.
Acompanymaysetupsubsidiarieswhichenjoythestatusofanenterpriselegalpersonandshallbeindependentlyresponsiblefortheirowncivilliabilities.
Article15Acompanymayinvestinotherenterprises.However,unlessitisotherwiseprovidedforbyanylaw,itshallnotbecomeacapitalcontributorthatshallbearseveralandjointliabilitiesforthedebtsoftheenterprisesinwhichitinvests.
Article16Whereacompanyintendstoinvestinanyotherenterpriseorprovideguarantyforothers,thecompanyshallmakearesolutionthroughtheboardofdirectors,shareholders'meetingorshareholders'assemblyaccordingtoitsbylaw.Ifthebylawprescribeanylimitonthetotalamountofinvestmentsorguaranties,orontheamountofasingleinvestmentorguaranty,theaforesaidtotalamountoramountshallnotexceedthelimitedamount.
Ifacompanyintendstoprovideguarantytoashareholderoractualcontrollerofthecompany,itshallmakearesolutionthroughtheshareholder'smeetingorshareholders'assembly.
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Theshareholderasmentionedintheprecedingparagraphortheshareholderdominatedbytheactualcontrollerasmentionedintheprecedingparagraphshallnotparticipateinvotingonthematterasmentionedintheprecedingparagraph.Suchmatterrequirestheaffirmativevotesofmorethanhalfoftheothershareholdersattendingthemeeting.
Article17Everycompanyshallprotectthelawfulrightsandinterestsofitsemployees,signemploymentcontractswithitsemployees,buysocialinsurances,andstrengthenlaborprotectionsoastoensureworksafety.
Everycompanyshall,invariousforms,intensifytheprofessionaleducationandin-servicetrainingofitsemployeessoastoimprovetheirpersonalquality.
Article18Theemployeesofacompanyshall,accordingtotheLaborUnionLawofthePeople'sRepublicofChina,organizealaborunion,whichshallcarryoutunionactivitiesandsafeguardthelawfulrightsandinterestsoftheemployees.Thecompanyshallprovidenecessaryconditionsforitslaboruniontocarryoutactivities.Thelaborunionshall,onbehalfoftheemployees,signcollectivecontractswiththecompanywithrespecttotheremuneration,workinghours,welfare,insurance,worksafetyandsanitation,andothermatters.
InaccordancewiththeConstitutionandotherrelevantlaws,acompanyshalladoptdemocraticmanagementintheformofassemblyoftherepresentativesoftheemployeesoranyotherways.
Tomakeadecisiononrestructuringoranyimportantissuerelatingtobusinessoperations,ortoformulateanyimportantbylaw,acompanyshallsolicittheopinionsofitslaborunion,andshallsolicittheopinionsandproposalsoftheemployeesthroughtheassemblyoftherepresentativesoftheemployeesorinanyotherway.
Article19TheChineseCommunistPartymay,accordingtotheConstitutionoftheChineseCommunistParty,establishitsbranchesincompaniestocarryoutactivitiesoftheChineseCommunistParty.ThecompanyshallprovidenecessaryconditionstofacilitatetheactivitiesoftheParty.
Article20Theshareholdersofacompanyshallabidebythelaws,administrativeregulationsandbylawandshallexercisetheshareholder'srightsunderthelaw.Noneofthemmayinjureanyoftheinterestsofthecompanyorofothershareholdersbyabusingtheshareholder'srights,orinjuretheinterestsofanycreditorofthecompanyby
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abusingtheindependentstatusoflegalpersonortheshareholder'slimitedliabilities.
Whereanyoftheshareholdersofacompanycausesanylosstothecompanyortoothershareholdersbyabusingtheshareholder'srights,itshallbeliableforcompensation.
Whereanyoftheshareholdersofacompanyevadesthepaymentofitsdebtsbyabusingtheindependentstatusoflegalpersonortheshareholder'slimitedliabilities,ifitseriouslyinjurestheinterestsofanycreditor,itshallbearseveralandjointliabilitiesforthedebtsofthecompany.
Article21Neitherthecontrollingshareholder,northeactualcontroller,noranyofthedirectors,supervisorsorseniormanagementofthecompanymayinjuretheinterestsofthecompanybytakingadvantageofitsconnectionrelationship.
Anyonewhocausesanylosstothecompanyduetoviolatingtheprecedingparagraphshallbeliableforthecompensation.
Article22Aresolutionoftheshareholders'meeting,shareholders'assemblyorboardofdirectorsofthecompanythatisinviolationofanylaworadministrativeregulationshallbenullandvoid.
Iftheproceduresforcallingashareholders'meetingorshareholders'assembly,ormeetingoftheboardofdirectors,orthevotingform,isinviolationofanylaw,administrativeregulationorthebylaw,orifaresolutionisinviolationofthebylawofthecompany,theshareholdersmay,within60daysfromthedaywhentheresolutionismade,requestthepeople'scourttorevokeit.
Iftheshareholdersinitiatealawsuitundertheprecedingparagraph,thepeople'scourtshall,attherequestofthecompany,demandtheshareholderstoprovidecorrespondingguaranty.
Whereacompanyhas,accordingtotheresolutionoftheshareholders'meeting,shareholders'assemblyormeetingoftheboardofdirectors,completedthemodificationregistration,ifthepeople'scourtdeclarestheresolutionnullandvoidorrevoketheresolution,thecompanyshallfileanapplicationwiththecompanyregistrationauthorityforrevokingthemodificationregistration.
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ChapterIIEstablishmentandOrganizationalstructureofALimitedLiabilityCompany
Section1Establishment
Article23Theestablishmentofalimitedliabilitycompanyshallmeetthefollowingconditions:
(1)Thenumberofshareholdersconstitutesthequorum;
(2)Theamountofcapitalcontributionssubscribedforbyallitsshareholdersisincompliancewiththecompanybylaws;
(3)Theshareholdersjointlyworkoutthebylaw;
(4)Thecompanyhasanameanditsorganizationalstructurecomplieswiththatofalimitedliabilitycompany;and
(5)Thecompanyhasadomicile.
Article24Alimitedliabilitycompanyshallbeestablishedbynomorethan50shareholdersthatmakecapitalcontributions.
Article25Alimitedliabilitycompanyshallstatethefollowingitems:
(1)Thenameanddomicileofthecompany;
(2)BusinessScopeofthecompany;
(3)Registeredcapitalofthecompany;
(4)Namesofshareholders;
(5)Forms,amountanddateofcapitalcontributionsmadebyshareholders;
(6)Theorganizationsofthecompanyanditsformation,theirfunctionsandrulesofprocedure;
(7)Legalrepresentativeofthecompany;
(8)Othermattersdeemednecessarybyshareholders.
Theshareholdersshouldaffixtheirsignaturesorsealstothebylawofthecompany.
Article26Theregisteredcapitalofalimitedliabilitycompanyshallbetheamountofcapitalcontributionssubscribedforbyallitsshareholdersasregisteredwiththecompanyregistrationauthority.
WhereanylaworadministrativeregulationoranydecisionoftheStateCouncilprovidesotherwiseforthepaid-in
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registeredcapitalortheminimumamountofregisteredcapitalofalimitedliabilitycompany,suchprovisionsshallprevail.
Article27Ashareholdermaymakecapitalcontributionsincash,inkind,orintellectualpropertyright,landuseright,orothernon-monetarypropertiesthatmaybeassessedonthebasisofcurrencyandmaybetransferredaccordingtothelaw,excludingthepropertiesthatshallnotbetreatedascapitalcontributionsunderanylaworadministrativeregulation.
Thevalueofthenon-monetarypropertiesascapitalcontributionsshallbeassessedandverified,whichshallnotbeover-valuedorunder-valued.Ifanylaworadministrativeregulationsprovidesforthevalueassessment,suchlaworadministrativeregulationshallbefollowed.
Article28Eachshareholdershallmakefullpaymentforthecapitalcontributionshehassubscribedtoaccordingtothebylaw.Ifashareholdermakeshiscapitalcontributionincash,heshalldepositthefullamountofsuchcashcapitalcontributionintoatemporarybankaccountopenedforthelimitedliabilitycompany.Ifanycapitalcontributionsaremadeinnon-monetaryproperties,theappropriatetransferproceduresforthepropertyrightsthereinshallbefollowedaccordingtolaw.
Whereashareholderfailstomakehiscapitalcontributionasspecifiedintheprecedingparagraph,heshallnotonlymakefullpaymenttothecompanybutalsobeartheliabilitiesforbreachofcontracttotheshareholderswhohavemakefullpaymentofcapitalcontributionsonschedule.
Article29Aftertheamountofcapitalcontributionsstatedinthecompanybylawshasbeenfullysubscribedfor,therepresentativedesignatedortheagentauthorizedbyalltheshareholdersshallsubmitacompanyregistrationapplication,thecompanybylaws,andotherdocumentstothecompanyregistrationauthoritytoapplyforincorporationregistration.
Article30Aftertheestablishmentofalimitedliabilitycompany,iftheactualvalueofthecapitalcontributionsinnon-monetarypropertiesisfoundtobeapparentlylowerthanthatsetforthinthebylawofthecompany,thedifferenceshallbemadeupbytheshareholderwhoofferedthem,andtheothershareholdersofthecompanywho
establishedthecompanyshallbearseveralandjointliabilities.
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Article31Aftertheestablishmentofalimitedliabilitycompany,eachshareholdershallbeissuedacapitalcontributioncertificate,whichshallspecifythefollowing:
(1)Thenameofthecompany;
(2)Thedateofestablishmentofthecompany;
(3)Thecompany'sregisteredcapital;
(4)Thenameoftheshareholder,theamountofhiscapitalcontribution,andthedaywhenthecapitalcontribution
ismade;and
(5)Theserialnumberanddateofissuanceofthecapitalcontributioncertificate.
Thecapitalcontributioncertificateshallbearthesealofthecompany.
Article32Alimitedliabilitycompanyshallpreparearegistryofshareholdersandtheregistryshallrecordthefollowinginformation:
(1)Thenamesofallshareholdersandtheirdomicilesthereof;
(2)Theamountofcapitalcontributionsmadebyeachshareholder;
(3)Theserialnumbersforallcapitalcontributioncertificates.
Theshareholdersrecordedintheregistryofshareholdersmay,pursuanttotheregistryofshareholders,claimtoandexercisetheshareholder'srights.
Acompanyshallregistereachshareholder'snameinthecompanyregistrationauthority.Whereanyoftheregistereditemsischanged,thecompanyshallmodifytheregistration.Ifthecompanyfailstodoso,itshallnot,onthebasisoftheunregisteredorun-modifiedregistrationitem,standuptoanythirdparty.
Article33Everyshareholdershallbeentitledtoreviewandduplicatethecompany'sbylaw,theminutesoftheshareholders'meetings,theresolutionsoftheboardofdirectors'meetings,theresolutionsoftheboardofsupervisors'meetings,aswellasthefinancialreports.
Everyshareholdermayrequesttoreviewtheaccountingbooksofthecompany.Whereashareholderrequeststoreviewtheaccountingbooksofthecompany,itshallsubmitawrittenrequest,whichshallstatehismotives.Ifthecompany,hasthelegitimatereasontobelievethattheshareholder'srequeststoreviewtheaccountingbookshasan
company;
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impropermotiveandmayimpairthelegitimateinterestsofthecompany,itmayrejecttherequestoftheshareholdertoreviewthebooksandshall,withinin15daysaftertheshareholdersubmitsawrittenrequest,givetheshareholderawrittenreply,whichshallincludeanexplanation.Ifthecompanyrejecttherequestofanyshareholdertoreviewtheaccountingbooks,theshareholdermaypleadapeople'scourttodemandthecompanytoopenthebooksforhisreview.
Article34Shareholdersshallbedistributedwiththedividendsbasedonthepercentagesofthecapitalthattheyactuallycontributed.Whenacompanyisgoingtoincreasethecapital,itsshareholdershavethepreemptiverighttosubscribetothenewcapitalsbasedonthesamepercentagesoftheoldcapitalthattheycontributed.Theexceptionshallbegivenifallshareholdersagreethattheywillnotbedistributedwiththedividendsorhavethepreemptiverighttosubscribetothenewcapitalsbasedonthepercentagesoftheoldcapitalthattheycontributed.
Article35Aftertheestablishmentofacompany,noshareholdermayillegallytakeawaytheregisteredcapital.
Section2OrganizationStructure
Article36Theshareholders'meetingofalimitedliabilitycompanyshallbecomposedofalltheshareholders.ItistheauthorityofthecompanyandshallexerciseitspowersaccordingtothisLaw.
Article37Theshareholders'meetingshallexercisethefollowingfunctions:
(1)Determiningthecompany'soperationalguidelinesandinvestmentplans;
(2)Electingandchangingthedirectorsandsupervisorsassumedbynon-representativesoftheemployeesanddecidingthemattersrelatingtotheirsalariesandcompensations;
(3)Deliberatingandapprovingreportsoftheboardofdirectors;
(4)Deliberatingandapprovingreportsoftheboardofsupervisorsorthesupervisor;
(5)Deliberatingandapprovingannualfinancialbudgetplansandfinalaccountplansofthecompany;
(6)Deliberatingandapprovingcompanyprofitdistributionplansandlossrecoveryplans;
(7)Makingresolutionsabouttheincreaseorreductionofthecompany'sregisteredcapital;
(8)Makingresolutionsabouttheissuanceofcorporatebonds;
(9)Adoptingresolutionsabouttheassignment,split-up,changeofcompanyform,dissolution,liquidationofthe
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(10)Revisingthebylawofthecompany;
(11)Otherfunctionsasspecifiedinthebylaw.
Ifalltheshareholdersconsenttoanyofthematterslistedintheprecedingparagraphbywriting,theydonotneedtoholdashareholders'meetingandmaymadedecisionsandhavethedecisionssignedandsealedbyalltheshareholders.
Article38Thefirstshareholders'meetingshallbeconvenedandpresidedoverbytheshareholderwhomadethelargestcapitalcontributions,andheshallexercisehispowersaccordingtothisLaw.
Article39Theshareholders'meetingsshallbeclassifiedintoregularmeetingsandinterimmeetings.
Theregularmeetingsshallbetimelyheldaccordingtothebylaw.Whereaninterimmeetingisproposedbytheshareholdersrepresenting1/10ofthevotingrightsormore,orbydirectorsrepresenting1/3ofthevotingrightsormore,orbytheboardofsupervisors,orbythesupervisorsofthecompanywithnoboardofsupervisors,aninterimmeetingshallbeheld.
Article40Wherealimitedliabilitycompanyhassetupaboardofdirectors.Theshareholders'meetingsshallbeconvenedbytheboardofdirectorsandpresidedoverbythechairmanoftheboardofdirectors.Ifthechairmanisunableorfailstoperformhisduties,themeetingsthereofshallbepresidedoverbythedeputychairmanoftheboardofdirectors.Ifthedeputychairmanoftheboardofdirectorsisunableorfailstoperformhisduties,themeetingsshallbepresidedoverbyadirectorjointlyrecommendedbyhalformoreofthedirectors.
Foralimitedliabilitycompanywithnoboardofdirectors,theshareholders'meetingsshallbeconvenedandpresidedoverbytheactingdirector.
Iftheboardofdirectorsortheactingdirectorisunableorfailstofulfillthedutiesofconveningtheshareholders'meeting,theboardofsupervisorsorthesupervisorofthecompanywithnoboardofsupervisorsmayconveneandpresideoversuchmeetings.Iftheboardofsupervisorsorsupervisordoesnotconveneorpresideoversuchmeetings,theshareholdersrepresenting1/10ormoreofthevotingrightsmayconveneandpresideoversuchmeetingsontheirowninitiatives.
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Article41Everyshareholdershallbegivenanotice15daysbeforeashareholders'meetingisheldunlessitisotherwisespecifiedbythebylaworitisotherwisestipulatedbyalltheshareholders.
Ashareholders'meetingshallmaketheminutesforthedecisionsaboutthemattersdiscussedatthemeeting.Theshareholderswhoattendedthemeetingshallaffixtheirsignaturestotheminutes.
Article42Theshareholdersshallexercisetheirvotingrightsattheshareholders'meetingsbasedontheirrespectivepercentageofthecapitalcontributionsunlessitisotherwiseprescribedbythebylaw.
Article43UnlessitisotherwiseprovidedforbythisLaw,thediscussionmethodsandvotingproceduresoftheshareholders'meetingshallbeprovidedforinthebylaw.
Aresolutionmadeatashareholders'meetingonrevisingthebylaw,increasingorreducingtheregisteredcapital,merger,split-up,dissolutionorchangeofthecompanyformshallbeadoptedbytheshareholdersrepresenting2/3ormoreofthevotingrights.
Article44Theboardofdirectorsestablishedbyalimitedliabilitycompanyshallbecomposedof3upto13membersunlessitisotherwiseprovidedbyArticle51ofthisLaw.
Ifalimitedliabilitycompanyestablishedby2ormorestate-ownedenterprisesorotherstate-ownedinvestors,theboardofdirectorsshallincluderepresentativesoftheemployeesofthecompanies.Theboardofdirectorsofanyotherlimitedliabilitycompanymayalsoincluderepresentativesoftheemployeesofthecompanyconcerned.Theemployees'representativeswhoaretoserveasboarddirectorsshallbedemocraticallyelectedbytheemployeesofthecompanythroughthegeneralassemb
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