State Act

Portuguese Civil Code, 1867

Article 1266 – Powers of the administration– A shareholder entrusted with the administration by a specific clause, may do all acts relating to the said administration, without depending on the approval or disapproval of the other shareholders except if he acts fraudulently. § Sole Paragraph - These powers of the administrative shareholder shall remain so long as the society remains and may only be revoked for a legitimate cause.