German company law
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German company law (Gesellschaftsrecht) is an influential legal regime for companies in Germany. The primary form of company is the public company or
In Germany, through most of the 19th century the
There were updates to the Allgemeines Deutsches Handelsgesetzbuch in the Aktiennovelle von 1870 (New Company Act 1870) and again in 1884. The 1884 reform mandated that companies have a two-tier board, with the justification that free registration rather than a system of state concession meant a supervisory board was needed to take over the state's monitoring role. The members of the supervisory board were not allowed to serve on the management board. However, shareholders could still directly elect management board members if they so wished. Further reforms led to the Handelsgesetzbuch of 1897, but without changing the basic structure.