Law No. 10840 has recently entered into force, amending the Costa Rican Commercial Code regarding representation at partners’ and shareholders’ meetings.
As a result of this reform, partners or shareholders may no longer be represented via simple proxy letter (private documents).
Moving forward, representation must be granted through formal powers of attorney, such as a duly granted general unlimited power of attorney (generalĂsimo), a general power of attorney, or a special power of attorney.
We remain available to assist you with these updates or to address any questions regarding this regulatory change.