A decision regarding changes in the composition of the board of directors shall be taken by the meeting of shareholders. The numerical composition of the board of directors and the amount of the representation rights of the members of the board of directors shall conform to that laid down in the articles of association. The Management Board shall be appointed for an indeterminate period, except where the statutes provide for a fixed period. A Member of the Management Board shall be deemed to have been appointed at the time of the decision of the meeting of Members, unless a later date for taking up office is specified in the decision.

If the participant has died, the trustee of the estate is entitled to take a decision on the appointment of the board of directors on behalf of the participant until receipt of the inheritance certificate. In such case a decision of the Orphan's Court regarding the appointment of a trustee for the estate left shall be submitted.

We note that under commercial Law, participants/shareholders have the right to participate and vote in the meeting remotely, or to vote before the meeting. Read more in the Explanatory Notes on Remote participation in meetings of Members, shareholders and Members section.

^{* The statutory time limit for examining documents may be extended on the basis of Section 64, Paragraph two of the Administrative Procedure Law.}

In the cases specified in the Law, an application for registration of changes may be sent for inspection to the State Revenue Service. Read more about the assessment of applications received in the Enterprise Register at the State Revenue Service.

Documents to be submitted:

• application form KR18 (signatures must be certified - or notarially or with a secure e-signature to be submitted electronically);
• minutes or decision of the meeting of participants (signatures must be certified - or notarially, or with a secure e-signature in order to submit electronically);
• the consent of the Member of the board of directors to hold office (not to be provided if the consent is included in the application) (signatures must be certified - or notarially or with a secure e-signature to be submitted electronically);
• notice of resignation of a Member of the Management Board if he has resigned himself;
• a questionnaire for inclusion of information in the Register of natural persons (to be signed by the foreigner himself or herself with a secure electronic signature in order to submit electronically; if there is no secure electronic signature, this document shall not be submitted) of a foreigner (foreigner) who has a legal link with Latvia on the basis of which mutual rights and obligations in the field of commercial activities and taxes are formed or have developed, but no personal identity number of the Republic of Latvia has been granted;
• if he application is submitted via postal services, information regarding payment of the State fee shall be appended (receipt or a copy thereof, or printout of an Internet bank payment or free text information).

Deadline for submission of documents in the Enterprise Register: 14 days from the taking of the Decision

View information on how to become an official and administrative Member of the merchant, as well as duties and authorisation thereof.