Alqanoni

Companies Law

Art. 171
Status unknownSaudi ArabiaRegulation

Issued by Ministry of Investment (misa.gov.sa)

1. A partner shall have the right to participate in deliberations and vote on decisions, and shall be entitled to a number of votes equal to the number of interests he owns. Any agreement to the contrary may not be concluded. 2. A partner may designate in writing another partner to act as his proxy to attend partner meetings and vote therein, unless the company’s articles of incorporation stipulate otherwise. A stipulation may be included in the articles of incorporation permitting a partner to designate in writing a non-partner to act as his proxy to attend partner meetings and vote therein. 3. A non-managing partner may present his opinion to the manager. Said partner, or his designee, may request access to the company’s operations and examine its records and documents at the company’s headquarters twice during the company’s fiscal year. The company must respond to his request within 15 days from the date of submission thereof. Any condition to the contrary shall be deemed null and void. 4. A person who becomes privy to any information, pursuant to this Article, shall maintain the confidentiality of said information and shall not use it for any purpose which may cause harm to the company or any of its partners. In case of non-compliance, said person shall be liable for any damage arising therefrom.

The Arabic text is the legally binding version. The English translation is provided for guidance only.

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