The Changes in the Normative Regime of Expelling an Associate from a Limited Liability Company Cover Image
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Промените в нормативния режим на изключването на съдружник от дружество с ограничено отговорност
The Changes in the Normative Regime of Expelling an Associate from a Limited Liability Company

Author(s): Georgi Stefanov
Subject(s): Law, Constitution, Jurisprudence, Commercial Law
Published by: Софийски университет »Св. Климент Охридски«

Summary/Abstract: The article treats the changes in the normative regulation related to the expulsion of an associate from a limited liability company, which were introduced through modification and in addition to the Commerce Act in 2003. The expulsion of an associate on grounds of not imported or unpaid interest and the expulsion because of failure to pay extra cash deposit, have been compared and distinguished. The procedure for expelling an associate in both cases has also been taken under consideration with emphasis on the differences between the two. The argument has been put forward that in order to expel an associate on reason of unpaid or not-imported stake, a resolution is to be taken by the general assembly of the limited liability company. It is accepted that this is the resolution fixing extra time to perform one’s obligation, which has one more modality — а delaying and negative condition. For expelling an associate because of failure to pay extra deposit or on other grounds, two resolutions are needed, requiring different majorities in order to be accepted. The new normative prerequisite for expelling an associate on grounds of unpaid extra cash deposit (failure to exercise his right to leave the company) has also been clarified.

  • Issue Year: 2004
  • Issue No: 5
  • Page Range: 7-15
  • Page Count: 9
  • Language: Bulgarian