{"id":14959,"date":"2020-05-08T20:14:13","date_gmt":"2020-05-08T20:14:13","guid":{"rendered":"http:\/\/www.eume.webexperts.me\/?page_id=14959"},"modified":"2026-02-06T12:31:24","modified_gmt":"2026-02-06T12:31:24","slug":"poglavlje-6-privredno-pravo","status":"publish","type":"page","link":"https:\/\/eume-new.webexperts.me\/?page_id=14959&lang=en","title":{"rendered":"Chapter 6 \u2013 Company law"},"content":{"rendered":"<div id=\"tdi_1\" class=\"tdc-zone\"><div class=\"tdc_zone tdi_2  wpb_row td-pb-row\"  >\n<style scoped>\n\/* custom css - generated by TagDiv Composer *\/\n\n\/* custom css - generated by TagDiv Composer *\/\n.tdi_2{\r\n                    min-height: 0;\r\n                }\n<\/style><div id=\"tdi_3\" class=\"tdc-row\"><div class=\"vc_row tdi_4  wpb_row td-pb-row\" >\n<style scoped>\n\/* custom css - generated by TagDiv Composer *\/\n\n\/* custom css - generated by TagDiv Composer *\/\n.tdi_4,\r\n                .tdi_4 .tdc-columns{\r\n                    min-height: 0;\r\n                }.tdi_4,\r\n\t\t\t\t.tdi_4 .tdc-columns{\r\n\t\t\t\t    display: block;\r\n\t\t\t\t}.tdi_4 .tdc-columns{\r\n\t\t\t\t    width: 100%;\r\n\t\t\t\t}.tdi_4:before,\r\n\t\t\t\t.tdi_4:after{\r\n\t\t\t\t    display: table;\r\n\t\t\t\t}\n\/* inline tdc_css att - generated by TagDiv Composer *\/\n\n.tdi_4{\nmargin-top:20px !important;\n}\n\n.tdi_4 .td_block_wrap{ text-align:left }\n\n<\/style><div class=\"vc_column tdi_6  wpb_column vc_column_container tdc-column td-pb-span8\">\n<style scoped>\n\/* custom css - generated by TagDiv Composer *\/\n\n\/* custom css - generated by TagDiv Composer *\/\n.tdi_6{\r\n                    vertical-align: baseline;\r\n                }.tdi_6 > .wpb_wrapper,\r\n\t\t\t\t.tdi_6 > .wpb_wrapper > .tdc-elements{\r\n\t\t\t\t    display: block;\r\n\t\t\t\t}.tdi_6 > .wpb_wrapper > .tdc-elements{\r\n\t\t\t\t    width: 100%;\r\n\t\t\t\t}.tdi_6 > .wpb_wrapper > .vc_row_inner{\r\n\t\t\t\t    width: auto;\r\n\t\t\t\t}.tdi_6 > .wpb_wrapper{\r\n\t\t\t\t    width: auto;\r\n\t\t\t\t    height: auto;\r\n\t\t\t\t}\n<\/style><div class=\"wpb_wrapper\" ><div class=\"td_block_wrap td_block_text_with_title tdi_7 tagdiv-type td-pb-border-top td_block_template_1\"  data-td-block-uid=\"tdi_7\" >\n<style>\n\/* custom css - generated by TagDiv Composer *\/\n.td_block_text_with_title{\r\n                  margin-bottom: 44px;\r\n                  -webkit-transform: translateZ(0);\r\n                  transform: translateZ(0);\r\n                }.td_block_text_with_title p:last-child{\r\n                  margin-bottom: 0;\r\n                }\n<\/style><div class=\"td-block-title-wrap\"><\/div><div class=\"td_mod_wrap td-fix-index\"><div class=\"itemIntroText\" style=\"color: #666666; font-family: 'Open+Sans', Arial, sans-serif;\">\n<p style=\"margin: 0.5em 0px 1.5em; text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-35951 size-full\" src=\"https:\/\/eume-new.webexperts.me\/wp-content\/uploads\/2025\/10\/poglavlje-6.png\" alt=\"\" width=\"1920\" height=\"1080\" srcset=\"https:\/\/eume-new.webexperts.me\/wp-content\/uploads\/2025\/10\/poglavlje-6.png 1920w, https:\/\/eume-new.webexperts.me\/wp-content\/uploads\/2025\/10\/poglavlje-6-300x169.png 300w, https:\/\/eume-new.webexperts.me\/wp-content\/uploads\/2025\/10\/poglavlje-6-889x500.png 889w, https:\/\/eume-new.webexperts.me\/wp-content\/uploads\/2025\/10\/poglavlje-6-768x432.png 768w, https:\/\/eume-new.webexperts.me\/wp-content\/uploads\/2025\/10\/poglavlje-6-1536x864.png 1536w, https:\/\/eume-new.webexperts.me\/wp-content\/uploads\/2025\/10\/poglavlje-6-747x420.png 747w, https:\/\/eume-new.webexperts.me\/wp-content\/uploads\/2025\/10\/poglavlje-6-696x392.png 696w, https:\/\/eume-new.webexperts.me\/wp-content\/uploads\/2025\/10\/poglavlje-6-1068x601.png 1068w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/p>\n<\/div>\n<div class=\"itemIntroText\">\n<p><strong>What is being negotiated?<\/strong><\/p>\n<p style=\"text-align: justify;\">Company law refers to the establishment and functioning of companies in the EU Member States. It is composed of two parts: company law in a narrow sense and accounting and auditing.<\/p>\n<p style=\"text-align: justify;\">\nCompany law acquis includes in a narrow sense refers to regulations on establishment, registration, domestic and cross-border mergers and division of joint stock companies. When it comes to accounting and auditing, the acquis includes the establishment of the system for quality control of the auditing profession and an effective system of public supervision of its work in general, as well as the system for publishing annual financial reports.<\/p>\n<p style=\"text-align: justify;\">By harmonising the national legislation with the EU acquis in the area of company law, business conditions for enabling national business entities to become competitive will be ensured along with the equal treatment at the EU market. Furthermore, the candidate state is required to ensure electronic registration of business entities with simplified procedures of registration and lower founding capital, which will boost development of small and medium-sized enterprises which represent 99% of all businesses in the EU, generating a total 70% of turnover and accounting for 60% in the GDP of the EU. At the same time, within the harmonisation of the national legislation with the EU acquis the state will avoid legal uncertainty which can be a burden to business and investments.<\/p>\n<p style=\"text-align: justify;\">In the area of financial reporting, the EU acquis prescribes the rules for presenting annual and consolidated financial reports, including simplified rules for small and medium-sized enterprises. Furthermore, specific accounting rules are being implemented in the area of banking and insurance.<\/p>\n<\/div>\n<div class=\"itemFullText\">\n<p><strong>Sub-areas?<\/strong><\/p>\n<p>Company law is divided into following subchapters: <strong>capital market<\/strong>, <strong>company law<\/strong> and <strong>accounting and auditing<\/strong>.<\/p>\n<p><strong>When was the chapter closed?<\/strong><\/p>\n<p style=\"text-align: justify;\">Montenegro opened Chapter 6 \u2013 Company Law on 18 December 2013 and provisionally closed it on 16 December 2025 at the Intergovernmental Conference held in Brussels.<\/p>\n<p><strong>Closing benchmarks?<\/strong><\/p>\n<p style=\"text-align: justify;\" data-start=\"26\" data-end=\"181\">Montenegro worked intensively to meet European standards and thereby created the conditions for closing this chapter by fulfilling four closing benchmarks:<\/p>\n<ol style=\"text-align: justify;\" data-start=\"183\" data-end=\"860\">\n<li data-start=\"183\" data-end=\"324\">\n<p data-start=\"185\" data-end=\"324\">Montenegro to adopt the Law on the Capital Market and relevant by-laws, ensuring alignment in particular with the Transparency Directive;<\/p>\n<\/li>\n<li data-start=\"325\" data-end=\"503\">\n<p data-start=\"327\" data-end=\"503\">Adoption of a new Law on Companies and relevant by-laws, aligned with the acquis in the field of company law, in particular by introducing provisions on cross-border mergers;<\/p>\n<\/li>\n<li data-start=\"504\" data-end=\"565\">\n<p data-start=\"506\" data-end=\"565\">Completion of alignment with the Takeover Bids Directive;<\/p>\n<\/li>\n<li data-start=\"566\" data-end=\"860\">\n<p data-start=\"568\" data-end=\"860\">Montenegro to fully align legislation in the fields of accounting and statutory audit, including by-laws, with the acquis. Montenegro is to establish an independent public oversight body, adequately financed, and a quality assurance system in order to align with the rules on statutory audit.<\/p>\n<\/li>\n<\/ol>\n<p style=\"text-align: justify;\" data-start=\"862\" data-end=\"1289\">With regard to fulfilling the first closing benchmark, the Law on Amendments to the Law on the Capital Market was adopted, along with the following by-laws: the Rulebook on Equivalent Transparency Requirements for Issuers from Third Countries and the Rulebook on the Detailed Content and Method of Financial Reporting. By adopting the law and the by-laws, Montenegro considers that it has fulfilled the first closing benchmark.<\/p>\n<p style=\"text-align: justify;\" data-start=\"1291\" data-end=\"1657\">In order to meet the second closing benchmark, the Law on Companies and the Law on the Registration of Business and Other Entities were adopted. The accompanying by-laws related to the Law on the Registration of Business and Other Entities were also adopted. By adopting these two laws and the accompanying by-laws, Montenegro fulfilled the second closing benchmark.<\/p>\n<p style=\"text-align: justify;\" data-start=\"1659\" data-end=\"1863\">Montenegro fulfilled the third closing benchmark by adopting the Law on Takeover of Joint-Stock Companies (\u201cOfficial Gazette of Montenegro\u201d, Nos. 18\/11, 52\/16), which is aligned with Directive 2004\/25\/EC.<\/p>\n<p style=\"text-align: justify;\" data-start=\"1865\" data-end=\"2302\">With regard to the fourth closing benchmark, relating to the fields of accounting and auditing, the Law on Accounting and the Law on Auditing were adopted. As regards administrative capacity, the Audit Oversight Directorate within the Ministry of Finance is fully operational, with two quality control inspectors. Taking into account the adopted legislation and existing capacities, Montenegro has fulfilled the fourth closing benchmark.<\/p>\n<p><strong>Institutions\/organizations participating in the negotiation group?<\/strong><\/p>\n<p style=\"text-align: justify;\" data-start=\"2388\" data-end=\"2628\">The negotiator for Chapter 6 and the Head of the Working Group are from the Ministry of Economic Development, as the lead institution for this chapter. The Secretary of the Negotiating Working Group is from the Ministry of European Affairs.<\/p>\n<p style=\"text-align: justify;\" data-start=\"2630\" data-end=\"3179\">In addition to representatives of the Ministry of Economic Development, members of the Negotiating Working Group include representatives of the following institutions: the Ministry of Finance, the Tax Administration, the Capital Market Authority, the Chamber of Commerce of Montenegro, the Faculty of Economics of the University of Montenegro, the Faculty of Law of the University of Montenegro, the Montenegrin Employers\u2019 Federation, the Institute of Accountants and Auditors of Montenegro, and the Institute of Certified Accountants of Montenegro.<\/p>\n<p data-start=\"3186\" data-end=\"3243\"><strong data-start=\"3186\" data-end=\"3243\">What are the benefits of this chapter for Montenegro?<\/strong><\/p>\n<p style=\"text-align: justify;\" data-start=\"3245\" data-end=\"3271\">The main benefits include:<\/p>\n<ul style=\"text-align: justify;\" data-start=\"3273\" data-end=\"4078\">\n<li data-start=\"3273\" data-end=\"3408\">\n<p data-start=\"3275\" data-end=\"3408\">Increased legal certainty and transparency of business operations, contributing to greater trust of domestic and foreign investors;<\/p>\n<\/li>\n<li data-start=\"3409\" data-end=\"3537\">\n<p data-start=\"3411\" data-end=\"3537\">Attraction of foreign investment through the establishment of clear and harmonized business rules in line with EU standards;<\/p>\n<\/li>\n<li data-start=\"3538\" data-end=\"3692\">\n<p data-start=\"3540\" data-end=\"3692\">Easier access to the European Union market for Montenegrin companies, with opportunities to expand business operations and cooperate with EU partners;<\/p>\n<\/li>\n<li data-start=\"3693\" data-end=\"3808\">\n<p data-start=\"3695\" data-end=\"3808\">Improved corporate governance, with clearer rules on responsibility and the protection of shareholders\u2019 rights;<\/p>\n<\/li>\n<li data-start=\"3809\" data-end=\"3948\">\n<p data-start=\"3811\" data-end=\"3948\">Protection of minority shareholders and small investors, contributing to the development of the capital market and financial stability;<\/p>\n<\/li>\n<li data-start=\"3949\" data-end=\"4078\">\n<p data-start=\"3951\" data-end=\"4078\">Promotion of business digitalization, facilitating the establishment and registration of companies through electronic services.<\/p>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\" data-start=\"4080\" data-end=\"4419\">The closure of Chapter 6 represents an important step toward creating a stable, transparent, and competitive business environment in Montenegro. This contributes to the country\u2019s economic development, strengthens legal certainty, and positions Montenegro as an attractive destination for investment and cooperation with the European Union.<\/p>\n<\/div>\n<\/div><\/div><div class=\"td_block_wrap td_block_title tdi_8 td-pb-border-top td_block_template_1 td-fix-index\"  data-td-block-uid=\"tdi_8\" >\n<style>\n.td-theme-wrap .tdi_8 .td-pulldown-filter-link:hover,\r\n            .td-theme-wrap .tdi_8 .td-subcat-item a:hover,\r\n            .td-theme-wrap .tdi_8 .td-subcat-item .td-cur-simple-item {\r\n                color: #eff2f4;\r\n            }\r\n\r\n            .td-theme-wrap .tdi_8 .block-title > *,\r\n            .td-theme-wrap .tdi_8 .td-subcat-dropdown:hover .td-subcat-more {\r\n                background-color: #eff2f4;\r\n            }\r\n            .td-theme-wrap .td-footer-wrapper .tdi_8 .block-title > * {\r\n                padding: 6px 7px 5px;\r\n                line-height: 1;\r\n            }\r\n\r\n          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                  opacity: 0;\r\n                }\n<\/style>\n<style>\n\/* custom css - generated by TagDiv Composer *\/\n.tdi_14 .tdm-member-image{\r\n\t\t\t\t\tbackground-repeat: no-repeat;\r\n\t\t\t\t\r\n\t\t\t\t\tbackground-size: cover;\r\n\t\t\t\t\r\n\t\t\t\t\tbackground-position: top;\r\n\t\t\t\t\r\n\t\t\t\t\tpadding-bottom: 75%%;\r\n\t\t\t\t}.tdi_14 .tdm-social-wrapper{\r\n\t\t\t\t    margin-top: 0px;\r\n\t\t\t\t}\n<\/style><div class=\"tdm-team-member-wrap tds-team-member1 tdi_14\"><div class=\"tdm-member-image-wrap\"><div class=\"tdm-member-image td-lazy-img td-fix-index\" data-type=\"css_image\" data-img-url=\"https:\/\/eume-new.webexperts.me\/wp-content\/uploads\/2024\/06\/Ivona-Savicevic.jpg\"><\/div><\/div><h3 class=\"tdm-title tdm-title-sm td-fix-index\">Ivona Savi\u0107evi\u0107<\/h3><span class=\"tdm-member-title td-fix-index\">Negotiatior<\/span><div class=\"tdm-member-info td-fix-index\"><div class=\"tdm-member-info-inner\"><p class=\"tdm-descr\"><\/p>\n<style>\n\/* 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!important;\r\n\t\t\t\t}.tdi_15 .tdm-social-text{\r\n\t\t\t\t\tmargin-left: 2px;\r\n\t\t\t\t\r\n\t\t\t\t\tmargin-right: 18px;\r\n\t\t\t\t\r\n\t\t\t\t\tdisplay: none;\r\n\t\t\t\t}\n<\/style><div class=\"tdm-social-wrapper tds-social3 tdi_15\"><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"vc_column_inner tdi_17  wpb_column vc_column_container tdc-inner-column td-pb-span4\">\n<style scoped>\n\/* custom css - generated by TagDiv Composer *\/\n\n\/* custom css - generated by TagDiv Composer *\/\n.tdi_17{\r\n                    vertical-align: baseline;\r\n                }.tdi_17 .vc_column-inner > .wpb_wrapper,\r\n\t\t\t\t.tdi_17 .vc_column-inner > .wpb_wrapper .tdc-elements{\r\n\t\t\t\t    display: block;\r\n\t\t\t\t}.tdi_17 .vc_column-inner > .wpb_wrapper .tdc-elements{\r\n\t\t\t\t    width: 100%;\r\n\t\t\t\t}\n<\/style><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\" ><div class=\"tdm_block td_block_wrap tdm_block_team_member tdi_18 td-animation-stack tdm-content-horiz-center td-pb-border-top td_block_template_1\"  data-td-block-uid=\"tdi_18\" >\n<style>\n\/* custom css - generated by TagDiv Composer *\/\n.tdi_18 .tdm-team-member-wrap:hover .tdm-member-image:before{\r\n                    opacity: 0;\r\n                }\n<\/style>\n<style>\n\/* custom css - generated by TagDiv Composer *\/\n.tdi_19 .tdm-member-image{\r\n\t\t\t\t\tbackground-repeat: no-repeat;\r\n\t\t\t\t\r\n\t\t\t\t\tbackground-size: cover;\r\n\t\t\t\t\r\n\t\t\t\t\tbackground-position: top;\r\n\t\t\t\t\r\n\t\t\t\t\tpadding-bottom: 75%%;\r\n\t\t\t\t}.tdi_19 .tdm-social-wrapper{\r\n\t\t\t\t    margin-top: 0px;\r\n\t\t\t\t}\n<\/style><div class=\"tdm-team-member-wrap tds-team-member1 tdi_19\"><div class=\"tdm-member-image-wrap\"><div class=\"tdm-member-image td-lazy-img td-fix-index\" data-type=\"css_image\" data-img-url=\"https:\/\/eume-new.webexperts.me\/wp-content\/uploads\/2025\/09\/renata-milutinovic-2.jpeg\"><\/div><\/div><h3 class=\"tdm-title tdm-title-sm td-fix-index\">Renata Milutinovi\u0107<\/h3><span class=\"tdm-member-title td-fix-index\">Head of the NWG<\/span><div class=\"tdm-member-info td-fix-index\"><div class=\"tdm-member-info-inner\"><p class=\"tdm-descr\">\n<\/p>\n<style>\n\/* custom css - generated by TagDiv Composer *\/\n.tdi_20 .tdm-social-item i{\r\n\t\t\t\t\tfont-size: 14px;\r\n\t\t\t\t\tvertical-align: middle;\r\n\t\t\t\t}.tdi_20 .tdm-social-item i.td-icon-linkedin,\r\n\t\t\t\t.tdi_20 .tdm-social-item i.td-icon-pinterest,\r\n\t\t\t\t.tdi_20 .tdm-social-item i.td-icon-blogger,\r\n\t\t\t\t.tdi_20 .tdm-social-item i.td-icon-vimeo{\r\n\t\t\t\t\tfont-size: 11.2px;\r\n\t\t\t\t}.tdi_20 .tdm-social-item{\r\n\t\t\t\t\twidth: 35px;\r\n\t\t\t\t\theight: 35px;\r\n\t\t\t\t\tline-height: 35px;\r\n\t\t\t\t\r\n\t\t\t\t    margin: 5px 10px 5px 0;\r\n\t\t\t\t}.tdi_20 .tdm-social-item-wrap:last-child .tdm-social-item{\r\n\t\t\t\t    margin-right: 0 !important;\r\n\t\t\t\t}.tdi_20 .tdm-social-text{\r\n\t\t\t\t\tmargin-left: 2px;\r\n\t\t\t\t\r\n\t\t\t\t\tmargin-right: 18px;\r\n\t\t\t\t}\n<\/style><div class=\"tdm-social-wrapper tds-social3 tdi_20\"><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"vc_column_inner tdi_22  wpb_column vc_column_container tdc-inner-column td-pb-span4\">\n<style scoped>\n\/* custom css - generated by TagDiv Composer *\/\n\n\/* custom css - generated by TagDiv Composer *\/\n.tdi_22{\r\n                    vertical-align: baseline;\r\n                }.tdi_22 .vc_column-inner > .wpb_wrapper,\r\n\t\t\t\t.tdi_22 .vc_column-inner > .wpb_wrapper .tdc-elements{\r\n\t\t\t\t    display: block;\r\n\t\t\t\t}.tdi_22 .vc_column-inner > .wpb_wrapper .tdc-elements{\r\n\t\t\t\t    width: 100%;\r\n\t\t\t\t}\n<\/style><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\" ><div class=\"tdm_block td_block_wrap tdm_block_team_member tdi_23 td-animation-stack tdm-content-horiz-center td-pb-border-top td_block_template_1\"  data-td-block-uid=\"tdi_23\" >\n<style>\n\/* custom css - generated by TagDiv Composer *\/\n.tdi_23 .tdm-team-member-wrap:hover .tdm-member-image:before{\r\n                    opacity: 0;\r\n                }\n<\/style>\n<style>\n\/* custom css - generated by TagDiv Composer *\/\n.tdi_24 .tdm-member-image{\r\n\t\t\t\t\tbackground-repeat: no-repeat;\r\n\t\t\t\t\r\n\t\t\t\t\tbackground-size: cover;\r\n\t\t\t\t\r\n\t\t\t\t\tbackground-position: top;\r\n\t\t\t\t\r\n\t\t\t\t\tpadding-bottom: 75%%;\r\n\t\t\t\t}.tdi_24 .tdm-social-wrapper{\r\n\t\t\t\t    margin-top: 0px;\r\n\t\t\t\t}\n<\/style><div class=\"tdm-team-member-wrap tds-team-member1 tdi_24\"><div class=\"tdm-member-image-wrap\"><div class=\"tdm-member-image td-lazy-img td-fix-index\" data-type=\"css_image\" data-img-url=\"https:\/\/eume-new.webexperts.me\/wp-content\/uploads\/2020\/07\/DSC_0175.jpg\"><\/div><\/div><h3 class=\"tdm-title tdm-title-sm td-fix-index\">Andrijana \u010canovi\u0107<\/h3><span class=\"tdm-member-title td-fix-index\">Secretary of the NWG<\/span><div class=\"tdm-member-info td-fix-index\"><div class=\"tdm-member-info-inner\"><p class=\"tdm-descr\"><\/p>\n<style>\n\/* custom css - generated by TagDiv Composer *\/\n.tdi_25 .tdm-social-item i{\r\n\t\t\t\t\tfont-size: 14px;\r\n\t\t\t\t\tvertical-align: middle;\r\n\t\t\t\t}.tdi_25 .tdm-social-item i.td-icon-linkedin,\r\n\t\t\t\t.tdi_25 .tdm-social-item i.td-icon-pinterest,\r\n\t\t\t\t.tdi_25 .tdm-social-item i.td-icon-blogger,\r\n\t\t\t\t.tdi_25 .tdm-social-item i.td-icon-vimeo{\r\n\t\t\t\t\tfont-size: 11.2px;\r\n\t\t\t\t}.tdi_25 .tdm-social-item{\r\n\t\t\t\t\twidth: 35px;\r\n\t\t\t\t\theight: 35px;\r\n\t\t\t\t\tline-height: 35px;\r\n\t\t\t\t\r\n\t\t\t\t    margin: 5px 10px 5px 0;\r\n\t\t\t\t}.tdi_25 .tdm-social-item-wrap:last-child .tdm-social-item{\r\n\t\t\t\t    margin-right: 0 !important;\r\n\t\t\t\t}.tdi_25 .tdm-social-text{\r\n\t\t\t\t\tmargin-left: 2px;\r\n\t\t\t\t\r\n\t\t\t\t\tmargin-right: 18px;\r\n\t\t\t\t\r\n\t\t\t\t\tdisplay: none;\r\n\t\t\t\t}\n<\/style><div class=\"tdm-social-wrapper tds-social3 tdi_25\"><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"wpb_wrapper wpb_text_column td_block_wrap td_block_wrap vc_column_text tdi_26  tagdiv-type td-pb-border-top td_block_template_1\"  data-td-block-uid=\"tdi_26\" >\n<style>\n\/* custom css - generated by TagDiv Composer *\/\n.vc_column_text > .td-element-style{\r\n\t\t\t\t\tz-index: -1;\r\n\t\t\t\t}\n<\/style><div class=\"td-fix-index\"><div class=\"itemIntroText\" style=\"color: #666666; font-family: 'Open+Sans', Arial, sans-serif; font-size: 14px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-style: initial; text-decoration-color: initial;\">\n<p>&nbsp;<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><div class=\"vc_column tdi_28  wpb_column vc_column_container tdc-column td-pb-span4 td-is-sticky\">\n<style scoped>\n\/* custom css - generated by TagDiv Composer *\/\n\n\/* custom css - generated by TagDiv Composer *\/\n.tdi_28{\r\n                    vertical-align: baseline;\r\n                }.tdi_28 > .wpb_wrapper,\r\n\t\t\t\t.tdi_28 > .wpb_wrapper > .tdc-elements{\r\n\t\t\t\t    display: block;\r\n\t\t\t\t}.tdi_28 > .wpb_wrapper > .tdc-elements{\r\n\t\t\t\t    width: 100%;\r\n\t\t\t\t}.tdi_28 > .wpb_wrapper > .vc_row_inner{\r\n\t\t\t\t    width: auto;\r\n\t\t\t\t}.tdi_28 > .wpb_wrapper{\r\n\t\t\t\t    width: auto;\r\n\t\t\t\t    height: auto;\r\n\t\t\t\t}\n<\/style><div class=\"wpb_wrapper\" data-sticky-enabled-on=\"W3RydWUsdHJ1ZSx0cnVlLHRydWVd\" data-sticky-offset=\"20\" data-sticky-is-width-auto=\"W2ZhbHNlLGZhbHNlLGZhbHNlLGZhbHNlXQ==\"><div class=\"wpb_wrapper td_block_wrap vc_widget_sidebar tdi_30 \" ><\/div><\/div><\/div><\/div><\/div><div id=\"tdi_31\" class=\"tdc-row\"><div class=\"vc_row tdi_32  wpb_row td-pb-row\" >\n<style scoped>\n\/* custom css - generated by TagDiv Composer *\/\n\n\/* custom css - generated by TagDiv Composer *\/\n.tdi_32,\r\n                .tdi_32 .tdc-columns{\r\n                    min-height: 0;\r\n                }.tdi_32,\r\n\t\t\t\t.tdi_32 .tdc-columns{\r\n\t\t\t\t    display: block;\r\n\t\t\t\t}.tdi_32 .tdc-columns{\r\n\t\t\t\t    width: 100%;\r\n\t\t\t\t}.tdi_32:before,\r\n\t\t\t\t.tdi_32:after{\r\n\t\t\t\t    display: table;\r\n\t\t\t\t}\n<\/style><div class=\"vc_column tdi_34  wpb_column vc_column_container tdc-column td-pb-span4\">\n<style scoped>\n\/* custom css - generated by TagDiv Composer *\/\n\n\/* custom css - generated by TagDiv Composer *\/\n.tdi_34{\r\n                    vertical-align: baseline;\r\n                }.tdi_34 > .wpb_wrapper,\r\n\t\t\t\t.tdi_34 > .wpb_wrapper > .tdc-elements{\r\n\t\t\t\t    display: block;\r\n\t\t\t\t}.tdi_34 > .wpb_wrapper > .tdc-elements{\r\n\t\t\t\t    width: 100%;\r\n\t\t\t\t}.tdi_34 > .wpb_wrapper > .vc_row_inner{\r\n\t\t\t\t    width: auto;\r\n\t\t\t\t}.tdi_34 > .wpb_wrapper{\r\n\t\t\t\t    width: auto;\r\n\t\t\t\t    height: auto;\r\n\t\t\t\t}\n<\/style><div class=\"wpb_wrapper\" ><\/div><\/div><div class=\"vc_column tdi_36  wpb_column vc_column_container tdc-column td-pb-span4\">\n<style scoped>\n\/* custom css - generated by TagDiv Composer *\/\n\n\/* custom css - generated by TagDiv Composer *\/\n.tdi_36{\r\n                    vertical-align: baseline;\r\n                }.tdi_36 > .wpb_wrapper,\r\n\t\t\t\t.tdi_36 > .wpb_wrapper > .tdc-elements{\r\n\t\t\t\t    display: block;\r\n\t\t\t\t}.tdi_36 > .wpb_wrapper > .tdc-elements{\r\n\t\t\t\t    width: 100%;\r\n\t\t\t\t}.tdi_36 > .wpb_wrapper > .vc_row_inner{\r\n\t\t\t\t    width: auto;\r\n\t\t\t\t}.tdi_36 > .wpb_wrapper{\r\n\t\t\t\t    width: auto;\r\n\t\t\t\t    height: auto;\r\n\t\t\t\t}\n<\/style><div class=\"wpb_wrapper\" ><\/div><\/div><div class=\"vc_column tdi_38  wpb_column vc_column_container tdc-column td-pb-span4\">\n<style scoped>\n\/* custom css - generated by TagDiv Composer *\/\n\n\/* custom css - generated by TagDiv Composer *\/\n.tdi_38{\r\n                    vertical-align: baseline;\r\n                }.tdi_38 > .wpb_wrapper,\r\n\t\t\t\t.tdi_38 > .wpb_wrapper > .tdc-elements{\r\n\t\t\t\t    display: block;\r\n\t\t\t\t}.tdi_38 > .wpb_wrapper > .tdc-elements{\r\n\t\t\t\t    width: 100%;\r\n\t\t\t\t}.tdi_38 > .wpb_wrapper > .vc_row_inner{\r\n\t\t\t\t    width: auto;\r\n\t\t\t\t}.tdi_38 > .wpb_wrapper{\r\n\t\t\t\t    width: auto;\r\n\t\t\t\t    height: auto;\r\n\t\t\t\t}\n<\/style><div class=\"wpb_wrapper\" 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