Statutes & Regulations
The document titled “Articles of Incorporation and Bylaws” sets forth our operating rules and also governs our relationship with our shareholders.
All new members receive a copy. By signing the membership agreement, they accept these operating rules.
Corporate Governance and the Code of Ethics
In 2010, the board of directors approved a corporate governance charter and, in accordance with it, adopted a code of ethics for directors.
With the exception of the general meeting, the various bodies of Sabam are not clearly defined in the law or our articles of incorporation, which can compromise optimal decision-making.
The corporate governance charter addresses this issue. It deals with sound governance, clearly identifies all of our company’s decision-making bodies, and defines their operations and powers. The charter includes all existing bodies - such as the board of directors, the executive committee, the councils, the various committees, and the management committee - as well as recently established bodies such as the compensation and nomination committee. It serves as a useful supplement to our articles of incorporation and general regulations and meets the demand for greater transparency as provided for in the Act of December 10, 2009, on the status and supervision of management companies. The charter provides for the voluntary adherence of directors to a code of ethics. This is an important decision that falls within the exclusive authority of the board of directors and will certainly increase confidence among shareholders, employees, and users of our repertoire, as well as strengthen our company’s image among the general public.
The board of directors has a duty to ensure proper compliance with the corporate governance charter, to regularly evaluate its implementation in practice, and, if necessary, to amend the charter.
The adoption of this charter is a very important decision that reflects well on the company and demonstrates a level of professionalism of which it can rightly be proud.