Meeting of members (dalībnieku sapulce)

The meeting of members (dalībnieku sapulce) is the body of a Latvian SIA where members take the decisions the law reserves to them: amending the articles, increasing or reducing share capital, electing and removing board members, and approving the annual report and the distribution of profit.

The meeting has a quorum when members holding more than half of the voting capital take part. A decision needs more than half of the votes represented, but amending the articles, ending the company's activity or reorganising it needs at least two thirds of the votes represented unless the articles require more.

The management board calls an ordinary meeting at least once a year to approve the annual report, decide on profit and elect the auditor. Members may also decide without a meeting by voting in writing on a draft the board sends out, with at least two weeks to reply, unless the law or articles require that question to be decided at a meeting.

In a joint-stock company the shareholders' meeting plays a similar role.