SOME ISSUES OF RESPONSIBILITY OF THE MEMBERS OF A LIMITED LIABILITY COMPANY
Keywords:
members of a company, limited liability company, corporate legal relations, responsibilityAbstract
Problem setting. A limited liability company acquires and carries out civil rights and obligations under the general rule through the system of its agencies. The general meeting of the members is the highest governing, the will-forming agency, which determines issues related to the life of a company at all stages of its existence, up to the decision on the termination of the activity. Thus, the responsibility of a company for the actions and decisions of its members makes the problem of their responsibility within corporate legal relations very relevant.
Article’s main body. The Law of Ukraine “On Limited Liability Companies” establishes a single basis for applying the responsibility to the members of a limited liability company under the obligations of a company – not complete contribution to the charter capital. Members of a limited liability company who have not fully paid contributions are debtors of the company, and the latter must become current with their creditors, since the members are not subjects of legal relations that arise between the company and the creditors.
Conclusions and prospects for the development. Members of a limited liability company having exclusive management powers of a company must be responsible for the consequences of implementing their decisions. Responsibility for obligations of a limited liability company in case of its insolvency (bankruptcy), caused by the actions (inaction) of its members, must be borne by the members who have the right of decisive influence on the economic activity of a company, i.e., those that own 50 percent or more of the shares in charter capital or have the required amount of shares, which ensures the right of the decisive influence on the economic activities of a company. At the same time, members of a company should be personally liable under the obligations of the latter only in case of insufficiency of the property of the company itself to satisfy the claims of creditors, as in case during the bankruptcy procedure.
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