The Latest Newsletter: New Companies Law in Montenegro
On 25 June 2020 the National Assembly of Montenegroadopted the new Companies Law which entered into force on 11 July 2020.
What is immediately noticed as the most significant difference how all matters regarding companies are regulated in much more detail as well as other matters which were not regulated before, inter alia:
i. the foundation of branches;
ii. the responsibilities for the company’s obligations;
iii. the representation of the company and the procura;
iv. the particular duties towards the company (very significant, as it determines the persons who have particular duties towards the company, who is considered connected person, as well as the particular duties in question and legal remedies in case of breach of those duties);
v. the property and capital of the company.
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