The rights of associates of limited liability companies will not be conditional on their investment. The associates will be able to establish through statutes other rules for giving the right to vote, to dividends and to shareholdings. The same principle will be applied when dividing the profit between founders so that the entrepreneurs will enjoy more freedom to build the own business. The document that regulates the relations between associates/founders of commercial organizations was approved by the Cabinet on Wednesday, IPN reports.
There was also introduced the corporate agreement to guarantee increased confidence between founders and partners and to encourage new investments. The investors will be able to ask for a detailed extract of the company from the State Register, while the associates will be able to access different types of information and documents.
The upper limit of 50 associates – private individuals will be excluded. The statutes will be the only mandatory constituent document, while the State Register will be the main source of official information. The share capital could be formed of consumptive goods and rights over intellectual property, while the company’s financial debts could be considered a creditor’s contribution to the share capital.
Associates’ assemblies could be held online and without the convocation procedure, while the documents could be kept in electronic form, the starting of businesses by citizens from the diaspora being encouraged this way. The associates will have the right to be represented by a manager that could be also a legal entity. The decisions in assemblies will be taken by fewer votes - 2/3 not 3/4 - so as to unblock the decision-making process.
