Съдържание и обем на представителната власт при органното представителство на юридическите лица
On Representative Powers Content of Legal Entity Representative Bodies

Summary/Abstract: The present article is focused on representative powers content of the representative bodies of a limited liability company and a joint stock company under the Commercial Act on the one hand, and die non - profit organizations and foundations under The Non - Profit Organizations Act, on the other hand. To begin with, the author analyses different types of representative powers provided by the Law to legal entity representative bodies. This includes full and limited representative powers, active and passive representative powers, substantive and procedural representative powers as well as joint representative powers. The second part of the article concentrates on representative powers limitations imposed by the legal entity's deed of incorporation or by shareholders/partners general meeting resolutions. The author argues that such limitations cannot be opposed vis-a-vis third parties dealing with the legal entity. On the other hand, the limitations in question have legal effect within the relation between the legal entity and the members of the representative body. Upon breach of the limitations the members of the representative body are obliged to award a compensation to the legal entity for the damage inflicted upon it.

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