HUNGARY

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HUNGARIAN STRUCTURE

Choose the type of company you are changing board member in

Pursuant to the Hungarian Act on the Civil Code, a Limited Liability Company (in Hungarian: “Korlátolt Felelősségű Társaság”) may have one of the following organizational structures:

  1. One or more Managing Directors (in Hungarian: “Ügyvezető”) and a Supervisory Board (in Hungarian: “Felügyelőbizottság”).
  2. One or more Managing Directors only.
Please see, respectively, “Managing Directors” and “Supervisory Board” below for a more in-depth description of each structure, including how to change the respective board members.

For a description of how to change the respective board members, please see the individual steps below.
As all information on how to change board members in Hungary on the LCB Site by nature is generic (i.e. does not include specific requirements for listed companies, special requirements in statutory documents or as otherwise stipulated in any type of special law), we strongly recommend seeking legal advice before actually changing any board members in Hungary.

Pursuant to the Civil Code, a Joint Stock Corporation (in Hungarian: “Részvénytársaság”) may be established either as a Private or a Public Joint Stock Corporations and may have one of the following organizational structures:

Private Joint Stock Companies:

  1. A Board of Directors (in Hungarian: “Igazgatóság”) or a Chief Executive Officer (in Hungarian: “Vezérigazgató”) and a Supervisory Board (in Hungarian: “Felügyelőbizottság”).
  2. A Board of Directors or a Chief Executive Officer only.

Public Limited Liability Companies:

  1. A Board of Directors and a Supervisory Board.
  2. A Council of Directors (in Hungarian: “Igazgatótanács”) only.

Please see, respectively, “Board of Directors” and “Board of Directors/Chief Executive Officer/Council of Directors” below for a more in-depth description of each structure, including how to change the respective board members.


For a description of how to change the respective board members, please see the individual steps below.
As all information on how to change board members in Hungary on the LCB Site by nature is generic (i.e. does not include specific requirements for listed companies, special requirements in statutory documents or as otherwise stipulated in any type of special law), we strongly recommend seeking legal advice before actually changing any board members in Hungary.

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Nagy és Trócsányi has provided all input about changing board members in Hungary.

Nagy és Trócsányi was founded in 1991 with the aim of offering sophisticated legal services. We continue to seek excellence in a comprehensive, modern practice that spans international commercial and business law. Nagy és Trócsányi is the exclusive member firm in Hungary for Lex Mundi – the world’s leading network of independent law firms with in-depth experience in 100+ countries worldwide.

For more information about Nagy és Trócsányi and changing board members in Hungary, please contact our Partner directly.

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