Is it necessary to set up a board of directors because the shareholders of a limited liability company are legal person shares?

Legal person shares refer to the shares formed by an enterprise as a legal person or a public institution or social organization with legal person qualifications, which are invested in unlisted circulating shares of a joint stock limited company with its legally disposable assets. What you are talking about is that a limited liability company shares part of its property with another limited liability company.

Article 45 of the Company Law A limited liability company shall have a board of directors with three to thirteen members. However, unless otherwise provided for in Article 51 of this Law.

Article 51 A limited liability company with a small number of shareholders or a small scale may have an executive director instead of a board of directors. The executive director may concurrently serve as the company manager.

It means that a board of directors must be established in principle, unless the number of shareholders is small or small, but there must be an executive director.

I recommend Beijing Lude Law Firm, which is professional and worth a try.