the company’s records, and a copy of them must be submitted to the State, by means of the CODEC, within five (5) days counted from their approval.
Paragraph 7
– The extract of the minutes shall be filed in the trade board and published, whenever it has resolutions destined to produce effects before third parties.
Duties
ARTICLE 13
– In addition to the duties set forth by the Law, the Board of Directors is also responsible for:
I.
to approve the strategic planning with the action guidelines, result targets and performance evaluation indexes;
II.
to approve annual and multi-year programs, with indication of the respective projects;
III.
to approve the budget of expenditures and investment of the company, with indication of the sources and uses of funds;
IV.
to supervise the execution of the plans, programs, projects and budgets;
V.
to define goals and priorities of public policies compatible with the company’s operation area and its corporate purpose;
VI.
to resolve on the policy of prices and tariffs of goods and services rendered by the company, respecting the regulatory framework of the respective sector.
VII.
to authorize, the opening, installation and extinguishment of branches, facilities, agencies, mains branches, offices and representations;
VIII.
resolve on the capital stock increase within the limit authorized by these bylaws, establishing the respective subscription and payment conditions;
IX.
to establish the maximum indebtedness limit of the company;
X.
resolve on the issuance of common debentures non-convertible into shares and without real security and, the other types of debentures, on the conditions mentioned in paragraph 1 of article 59 of Law 6,404/76;
XI.
to resolve on the declaration of interest on own capital or distribution of dividends due to the result for the current year, for the year ended or profit reserve, without adverse effects to the subsequent ratification of the general meeting;
XII.
to resolve on the personnel policy, including the determination of the staff, plan of positions and salaries, general collective negotiation conditions, opening of a selective process to fill positions vacant and Profit Sharing Program;
XIII.
to previously authorize the execution of any legal businesses when the amount involved exceeds seventy million reais (R$70,000,000.00), including the acquisition, sale or encumbrance of assets, the obtainment of loans and financings, the assumption of obligations in general and also the association with other legal entities;
XIV.
to authorize the incorporation of a wholly-owned subsidiary or the interest in the capital of other companies, except the competence of the general meeting provided for in article 256 of Law 6,404/76;
XV.
to approve the hiring of civil liability insurance in favor of the members of the statutory bodies, employees, agents and mandatories of the company;
XVI.
to grant licenses to officers, in compliance with the pertinent regulation;
XVII.
to approve its internal regulation and the internal regulation of the executive board and of the audit committee;
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