Shareholders own shares that alone or together entitle them to the control of a specific apartment, building, or part of a property specified in the housing company’s articles of association. Ownership of shares entails specific rights and obligations within the company. In addition to the right to manage the apartment, key shareholder rights include voting at the company’s general meeting and the right to object to decisions made at the general meeting. The most significant obligation is the obligation to pay maintenance charges.
Shareholders exercise their decision-making authority at the general meeting. Every shareholder has the right to participate in the general meeting and request further information from the board and the property manager about the matters under consideration. Shareholders also have the right to demand the convening of an extraordinary general meeting and to have matters falling under the general meeting’s jurisdiction discussed during the meeting.
Shareholders are equal among themselves. In other words, no other shareholder should be favored at the expense of another shareholder or the company. The general meeting must not make decisions that violate the principle of equality unless the shareholder, on whose behalf an undue advantage is granted, gives consent to it.