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Separate problems of jurisdiction and competence of participants’ in a limited liability company general meeting legislative determination


Publication Date:

Authors : ;

Page : 135-151

Keywords : Limited Liability Company; order of general meeting convening of participants’ in a Limited Liability Company; participant expulsion from Limited Liability Company.;

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In the paper some challenges concerning gaps in economic legislation have been reviewed. Described issues are related to: involuntarily removal of an LLC member , who does not pay full shareholder fee, and who does not execute or conducts responsibilities of LLC member improperly, or precludes by his actions from achievement of company purposes, herewith other participants collectively own sixty or less percent of votes. The author has given the definition of the owner and shareholder (member), voting rights (corporate rights), foundation documents, share capital, share of stock, share of assets. The author has analyzed various points of view concerning the definition of voting rights (corporate rights) of LLC shareholder, Stockholders' Equity and share of stock, and difference between voting right and the amount of their contribution to the business. Court practice concerning efficient resolution of complex commercial and corporate disputes and legal means for prevention of conflicts between LLC members have been researched by author.

Last modified: 2015-11-06 01:03:50