Functions and Responsibilities of the Commissioner in a Mexican Commercial Company

Introduction

In the context of Mexican companies and commercial companies, the figure of Commissar plays a fundamental role in supervising and controlling the financial and legal management of the entity. Its role is essential to ensure transparency and compliance with legal obligations and the company's prosecutors. In this articleUlo, we will explore in detail the roles and responsibilities of a Commissioner in a Mexican commercial company.

Commissioner's Definition and Requirements

The Commissioner is a regulated figure under the Articles 164 to 171 of the General Law on Commercial Companies (LGSM). To hold the position of Commissioner, certain requirements must be met, such as being a natural person (although the Law does not explicitly specify this, it is generally assumed), having full legal capacity and not having been convicted of serious crimes. The LGSM also establishes incompatibilities, such as being an employee or a blood relative of the administrators.

Principal Duties of the Commissioner

1. Surveillance and Oversight: The Commissioner has the responsibility to oversee and monitor the management of administrators of society. This includes reviewing financial statements, accounting and other records to ensure that are in order and in compliance with applicable laws and regulations.

1. Report to the General Assembly: The Commissioner must submit Periodic reports to the General Meeting of Shareholders (or Partners), detailing their observations and recommendations in relation to the company's financial and accounting operations. In public limited companies, you must submit an annual report on the situation of the company.

1. Internal Control: Contribute to the establishment and maintenance of a adequate internal control in society, identifying areas of risk and proposing improvements.

1. Legality Verification: The Commissioner must verify that the company's decisions and actions are in accordance with the law and bylaws. In addition, you must ensure that tax and labor obligations are met.

1. Accountability: The Commissioner also plays an important role in accountability, as he may be called upon to testify before regulatory or judicial authorities in the event of irregularities or disputes in society.

Legal Responsibilities

The Commissioner is a key figure in the legal responsibility of society. You must act with honesty, diligenceA and loyalty in the performance of his duties, and is subject to civil and criminal liability in case of negligence or complicity in illegal activities From the companya.

Conclusion

The Commissioner in a Mexican commercial company plays a critical role in the supervision and control of the management offinancial and legal status of the entity. Its functions and responsibilities guarantee transparency, legality and compliance with the obligations of the company, contributing to its proper functioning and To the trust ofand shareholders, partners and authorities. It is essential that companies choose qualified and ethical people to fill this position, thus ensuring adequate corporate governance.

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