Following the procedures prescribed by the law as a condition for the decision made by the general meeting of a corporation to acquire legal force

Tyumen State University Herald. Social, Economic, and Law Research


Release:

Vesntik TSU. law (#3). 2013

Title: 
Following the procedures prescribed by the law as a condition for the decision made by the general meeting of a corporation to acquire legal force


About the authors:

Marina F. Lukyanenko ,
Dr. Jur. Sci., Professor, judge of Federal Arbitration Court of West Siberian Federal District (Tyumen)

Stanislav V. Lukyanenko,
Post-graduate student, Institute of Law, Economics and Management, Tyumen State University

Abstract:

Requirements, established by the legislation of different types of corporations, concerning agenda of the general meeting of participants, its competence and quorum for decision-making, compliance with which is nevessary for the validity of the solution as an expression of the will of a legal entity, are analyzed. It is concluded that the prohibition to change agenda is a guarantee that the company’s regulatory body will comply with principles of democracy. The question on the possibility of expanding the competence of the general meeting in the charters of corporations is investigated. Concerning types of corporations, it is proposed that the legislation provides the possibility to transfer the competence of the general meeting to other bodies of management of the corporation, to exclude the provision of the exclusive competence of the general meeting from the law (by analogy with the law on joint-stock companies). The rules of quorum are studied, the lack of which shall entail the illegality adopted by the decision of the general meeting.

References:

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