Mexico: Reform to several provisions of the General Law of Commercial Companies

In brief

On 20 October 2023, the General Law of Commercial Companies (GLCC) was amended through a decree ("Decree") published on the same date in the Mexican Official Gazette ("Reform").

The purpose of the Reform is to allow Mexican commercial companies to use technological tools, whether electronic, optical or any other technology, to hold their shareholders meeting, minutes and management meeting minutes, including the method for calling them. This Reform will make it easier for Mexican commercial companies to simplify the process for calling and holding shareholders and management meeting minutes, as well as for collecting signatures more quickly and efficiently.


Recommended actions

The Reform became effective 21 October 2023, with the exception of the reform of Article 81 of the GLCC (publication of calls for meetings of limited liability companies in the electronic system of the Ministry of Economy), which will come into force six months after publication, that is, 21 April 2024.

Commercial companies incorporated prior to the entry into force of this Reform may incorporate these new provisions in their bylaws. Therefore, we recommend (i) that new companies to be incorporated in Mexico include these changes in their bylaws and (ii) existing companies to review the bylaws and incorporate these new provisions.

Baker McKenzie is at your disposal to analyze your bylaws and, if necessary, determine the necessary amendments to update your bylaws to include these new provisions.


The Reform incorporates cases that allow shareholders, partners and management meeting minutes to be held outside the corporate domicile of the companies. These meetings may be held virtually using electronic, optical or other technological means to the extent that the bylaws of the Mexican commercial companies allow the participation of attendees by such means, and as long as the participation is simultaneous and interaction is allowed in the deliberations and decision making in a manner equivalent to a face-to-face meeting. Furthermore, the Reform contemplates for commercial companies to put mechanisms in place that allow access and accreditation of the identity of attendees, validate the meaning of their vote and generate corresponding evidence.

The amendments to GLCC articles are as follows:

  • Article 6 (section XIV was added)
  • Article 75 (second paragraph was added)
  • Article 80 (second and third paragraphs were added)
  • Article 81 (amended)
  • Article 82 (third paragraph was added)
  • Article 143 (fifth paragraph was added)
  • Article 178 (third paragraph was added)
  • Article 179 (second and third paragraphs were added)
  • Article 186 (amended)
  • Article 194 (first paragraph was amended)

Here is a copy of the Decree (in Spanish only) for your reference.

Copyright © 2024 Baker & McKenzie. All rights reserved. Ownership: This documentation and content (Content) is a proprietary resource owned exclusively by Baker McKenzie (meaning Baker & McKenzie International and its member firms). The Content is protected under international copyright conventions. Use of this Content does not of itself create a contractual relationship, nor any attorney/client relationship, between Baker McKenzie and any person. Non-reliance and exclusion: All Content is for informational purposes only and may not reflect the most current legal and regulatory developments. All summaries of the laws, regulations and practice are subject to change. The Content is not offered as legal or professional advice for any specific matter. It is not intended to be a substitute for reference to (and compliance with) the detailed provisions of applicable laws, rules, regulations or forms. Legal advice should always be sought before taking any action or refraining from taking any action based on any Content. Baker McKenzie and the editors and the contributing authors do not guarantee the accuracy of the Content and expressly disclaim any and all liability to any person in respect of the consequences of anything done or permitted to be done or omitted to be done wholly or partly in reliance upon the whole or any part of the Content. The Content may contain links to external websites and external websites may link to the Content. Baker McKenzie is not responsible for the content or operation of any such external sites and disclaims all liability, howsoever occurring, in respect of the content or operation of any such external websites. Attorney Advertising: This Content may qualify as “Attorney Advertising” requiring notice in some jurisdictions. To the extent that this Content may qualify as Attorney Advertising, PRIOR RESULTS DO NOT GUARANTEE A SIMILAR OUTCOME. Reproduction: Reproduction of reasonable portions of the Content is permitted provided that (i) such reproductions are made available free of charge and for non-commercial purposes, (ii) such reproductions are properly attributed to Baker McKenzie, (iii) the portion of the Content being reproduced is not altered or made available in a manner that modifies the Content or presents the Content being reproduced in a false light and (iv) notice is made to the disclaimers included on the Content. The permission to re-copy does not allow for incorporation of any substantial portion of the Content in any work or publication, whether in hard copy, electronic or any other form or for commercial purposes.