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Tuesday, 26.11.2024, 05:16
On amending foundation’s articles of association in Latvia
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Answer: According to Associations and Foundations Law of the Republic of Latvia, only the executive board may make amendments to the articles of association after the entering of a foundation into the register. The executive board may make amendments to the articles of association only in the cases specified in the articles of association or if the need for the amendments is justified in that the conditions from which the goals of the foundation arose have changed.
In notifying the Register authority of the amendments to the articles of association, the minutes of the executive board meeting with the decision regarding the making of the amendments to the articles of association, a document certifying the consent of another administrative body for the making of the amendments (if such is provided for in the articles of association) and the full text of the articles of association in the new wording shall be appended.
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