Changes to Mexico’s General Corporations Law on the Use of Electronic Media

On October 13, 2023, President Andres Manuel Lopez Obrador signed a bill introducing four significant changes to Mexico’s General Corporations Law:

1. Shareholders’ and Administrative Bodies’ meetings can now be held virtually, provided that participants can be identified, the intent of their votes is clear, and the necessary evidence is generated. Companies that wish to conduct electronic meetings must incorporate this provision into their bylaws.

2. Meetings can likewise take place outside the company’s registered office as long as all shareholders approve this decision and can assist virtually.

3. Notice of meeting must be published in the Secretary of Economy’s electronic system.

4. Lastly, General Assemblies can now be electronically signed.

This bill was published in the Official Gazette on October 20, 2023, and went into effect the following day. The obligation to post notices in the Secretary of Economy’s electronic system will begin six months after the bill’s publication.

The bill’s complete text can be found here.