Art. 14 Act on State Shareholdings in Legal Entities and Other Bodies (LPartEt) - Engagement Letter

1. The relationships between the state and its representatives are established in a letter of assignment. This serves as an addendum to the terms of reference when the representatives are employed by the State of Valais.

2. These documents particularly describe

a) the strategic and financial objectives pursued by the state with its participation;

b) the modalities for representatives to report on their administrative activities;

c) the obligation to request instructions if necessary;

d) the potential possibility for the state to issue instructions ex officio;

e) the extent of the power of attorney for representation;

f) issues of civil liability;

g) compensation modalities.

3. Based on the information provided by the departments, the State Chancellery updates the register of letters of assignment.

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