NEWSLETTER-2019-metin

13 COMMERCIAL LAW right of privilege, and the members of the board of directors elected in the normal manner, are equal. As election of the members of the board of directors from share- holders forming a certain group, certain share groups, and minorities, may be stipulated in the articles of association, and rights to recom- mend candidates for certain numbers of membership of the board of directors may be provided to certain groups, likewise. In order to exercise the right granted in the form of nominating a candidate, if the shareholders to whom the right is granted are more than one, they should hold a meeting. The candidate recommended at this meeting shall be selected by the General Assembly unless just cause to the contrary is given. Although Article 360 of the TCC is mandatory, not all violations of this Article result in nullity. An assessment should be made accord- ing to the characteristics of the solid case, the stipulated provision of the articles of association, and the decision of the general assembly.