Представителна власт на управителя на дружеството с ограничена отговорност
Power of Representation of the Manager of a Limited Liability Company

Summary/Abstract: The Limited Liability Company (LLC, or ООД in Bulgarian) is a closed-type commercial company with share capital. One of the most important issues in the legal arrangement of an LLC concerns the company’s management bodies. The matter of the legal standing of the LLC manager is of great interest from both theoretical and practical viewpoints, since a commercial company with share capital performs its economic activity and attains its goals through the persons functioning as its lawful representatives. That is why the issues regarding the manner of representation of the company, are fundamental to the successful participation of that company in the commercial circulation process. The topicality of the study is also determined by the fact that the definition of the scope of a manager’s power of representation has not just theoretical, but also huge practical importance for the activity of the LLC due to an objective social necessity for establishing the limits of his/her authority. The purpose of this article is to characterize the power of representation of the manager with a focus on the times of its initial occurrence and termination, as well as on its scope. The study analyses from a theoretical perspective the limits of the power of representation, together with the multitude of speculative opinions and the existing judicial practice. Using this as a foundation, the study outlines the main discussion points, draws particular conclusions and makes proposals for further improvement of the applicable regulations.

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