Amendment of the articles of association in limited companies

In accordance with Turkish Commercial Code Article 573/1, a limited company is established under a trade name by one or more natural or legal persons; It is a type of capital company whose basic capital is determined and this capital consists of the total of basic capital shares. The limited company contract is a written document that regulates the relations between the partners of the company, their rights and responsibilities, the management and organs of the company and other important issues regarding the establishment and operation of a limited company. The concept of company contract is a document signed by the partners during the establishment of the company and can be described as the "official establishment document of the company". The company contract regulates issues such as the structure of the company, management, decision-making mechanism, purpose of the company and field of activity. In addition, the rights and obligations of the partners are determined within the framework of the company agreement. The issue of changing the company contract in limited companies is covered by Articles 589-592 of the Turkish Commercial Code No. 6102. It is specifically regulated among its provisions. According to the Turkish Commercial Code, the amendment of the company contract can be examined as a special contract amendment and a general contract amendment. In the new Turkish Commercial Code, the system in the old Turkish Commercial Code has been adopted exactly. In both laws, in addition to the general regulation of contract amendments, capital increase and reduction are also regulated as special contract amendments.