Recent Jurisprudence – Powers of Attorney Granted by Business Associations

January 26, 2012
Recent Jurisprudence – Powers of Attorney Granted by Business Associations

On November 16, 2011, the First Chamber of the Supreme Court of Justice of the Nation (SJNC, for its acronymin Spanish) approved court opinion 15/2011(10ª) entitled: “Business Associations. In the public instrumentregarding the power of attorney granted to an attorney-in-fact, the notary public is not required to relate, insert oradd the section of the meeting minutes evidencing the designation of the “special delegate to oversee theformalization of the minutes whereby power was granted to the grantor.” In this opinion, the SCJN resolves, bycontradictory court opinions, that notwithstanding the fact that the notary should evidence in the instrumentgranting powers that the grantor has the authority to do so and include the entire sequence of the granting ofcorresponding powers, the notary is not required to relate, insert or add in the public instrument granting thepower of attorney the section of the meeting minutes evidencing the designation of the special delegate who willoversee the formalization of the meeting minutes, given that this “does not form part of the sequence or chain oftransfer of the authority prior to the granting of the power of attorney.” This court opinion is still pendingpublication in the Judicial Weekly Report of the Federation.

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