Acts of Corporations as the Main Factor in the Lapse of the Right of Participation in Corporations

Abstract

The article is devoted to acts of corporations as the main factor in the lapse of the right of participation in corporations. In recent years corporate relations in general were the object of scrutiny. The main discussion was expanded in the field of explanations of their nature and place in the system of civil law. The priority was the concept of special and not contractual nature of corporate relations. The result of developed dispute was large-scale changes in the legislation of the Russian Federation on legal entities. The changes affected not only the Civil code of the Russian Federation (hereinafter - the CC), but the Federal law of 08.02.1998 No. 14-FL “On limited liability companies", the Federal law dated 26.12.1995 No. 208-FL "On joint stock companies". The lapse of the right of participation is associated primarily with the disappearance of one of the parties of the membership relationship. It is either a liquidation of the corporation, the output of member of the corporation, or conclusion of disposing civil transactions. Liquidation is considered as a corporate procedure, resulting in the termination of a legal entity. Liquidation is considered as a corporate procedure, resulting in the lapse of a legal entity. The output of member of the economic society is carried out on the basis of his act. Thus, such an act would be in itself a ground for lapse of the participation rights as since its implementation the legal status of the participant is lapsed. Participation right is lapsed by one partner and begins with another. For a business entity any effect does not occur, because the identity of a particular participant does not matter, there are no changrs in the structure of the corporation. Only the subject is changing in the membership relationship.

DOI: 10.5901/mjss.2015.v6n3p169