Will Membership Rights by Transferred, if the shareholder Transfers His Shares in Contravention of the Provisions of the Company's Statute, Restricting the Transfer? Cover Image

Придобиват ли се членствените права при прехвърляне на винкулирана поименна акция без спазване на изискванията на Устава за винкулираност?
Will Membership Rights by Transferred, if the shareholder Transfers His Shares in Contravention of the Provisions of the Company's Statute, Restricting the Transfer?

Author(s): Zlatka Vangelova
Subject(s): Law, Constitution, Jurisprudence, Commercial Law
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: Shares the transfer of which is restricted; Owner of a share; Shareholder; Entry in the book of registered shareholders; Share transfer

Summary/Abstract: This article discusses two opinions expressed in the Bulgarian literature concerning the vinculated shares' transfer made against a restriction in the company's statute. The first sustains that the transfer is validly made but it should not has an effect on the company. The other does not grant no legal title of the share to the acquirer at all. This study defends as right the second opinion because the transferee should become a member of the company only upon the right transfer of shares. However, in the studied case the transferee may not obtain the legal title of the share since not acting in compliance with the company-statute's terms about the restriction for shares' transfer.

  • Issue Year: 2020
  • Issue No: 1
  • Page Range: 51-63
  • Page Count: 13
  • Language: Bulgarian