ICELAND

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ICELANDIC STRUCTURE

Choose the type of company you are changing board member in

Pursuant to the Icelandic Acts on Private Limited Liability Companies, a Private Limited Liability Company must have one of the following organizational structures:

  1. A Board of Directors (in Icelandic: “félagsstjórn”) and an Executive Board (in Icelandic: “framkvæmdastjórn”).
  2. A Board of Directors, an Executive Board and a Representative Committee (in Icelandic: “fulltrúanefnd”) (This structure is uncommon in Iceland).
  3. A Board of Directors only.

Please see, respectively, “Board of Directors”, “Executive Board” and “Representative Committee” below for a more in-depth description of each board type, 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 Iceland 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 Iceland.

Pursuant to the Icelandic Acts on Public Limited Liability Companies, a Public Limited Liability Company must have one of the following organizational structures:

  1. A Board of Directors (in Icelandic: “félagsstjórn”) and an Executive Board (in Icelandic: “framkvæmdastjórn”).
  2. A Board of Directors, an Executive Board and a Representative Committee (in Icelandic: “fulltrúanefnd") (This structure is uncommon in Iceland).

Please see, respectively, “Board of Directors”, “Executive Board” and “Representative Committee” below for a more in-depth description of each board type, 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 Iceland 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 Iceland.

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LEX Law Offices has provided all input about changing board members in Iceland. 

LEX is one of Iceland´s leading law firms, providing clients with comprehensive services over a wide range of financial, corporate and commercial issues, as well as most other aspects of Icelandic law. LEX aims to be the Icelandic legal firm of choice for our clients and address their needs in the ever-changing local and international markets. LEX enjoys 1 tier ranking by major ranking agencies such as Chamber and Partners, Legal 500 and IFLR 1000.

For more information about LEX Law Offices and changing board members in Iceland, please contact our Partner directly.

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