Ley 1427 de 2010 | Ley 1427 de 2010 — Colombia law | Esheria

Ley 1427 de 2010

This act changes the legal nature of Satena and includes other provisions.

Jurisdiction
Colombia
Instrument
Act or statute
Citation
Ley 1427 de 2010
Version
Undated source snapshot
Language
es
Updated
Official source
View official record ↗
air transport operations case transfer corporate formation corporate governance corporate transformation debt assumption effective date employment contracts employment status government financing government personnel commission internal discipline private law governance repeal share issuance share transfer social security state ownership state participation

Statute overview

About this statute

This act changes the legal nature of Satena and includes other provisions. Satena is authorized to issue shares, may create subsidiaries/branches/agencies, and the Nation must keep 51% ownership while the remaining 49% may be sold under the national Government’s disposal plan. The Ministry of Finance and Public Credit may take over, exchange, or capitalize Satena’s guaranteed debt up to COP 98 billion, and Satena must deliver the equivalent shares with a registration certificate. Satena S. A., once formed as a mixed-economy company, must be directed and managed by its shareholders’ assembly, board of directors, and company president. The Ministry of National Defense and the Ministry of Finance and Public Credit must be partners in Satena S. A.; entities attached to or linked with the Ministry of National Defense may also join as partners in the incorporation formalities.

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