LEGAL STATUS OF LIMITED LIABILITY COMPANY (IN THE PRACTICE OF FOREIGN COUNTRIES)
Keywords:
business companies, limited liability company, practice of foreign countries, creation and termination of a legal entity, improvement of legislationAbstract
This article analyzes the legal status of limited liability companies. The research proposed in the article is aimed at giving a holistic view of the concept and types of business companies, the creation and termination of limited liability companies. Also, the scientific views of scientists, the legal practice of foreign countries, the application of civil legislation are considered. In conclusion, the author makes certain scientific conclusions and suggestions.
References
https://review.uz/oz/post/ot-doing-business-2019-k-doing-business-2020
Act on Limited Liability Companies, as consolidated and published in the Federal Law Gazette III, Index No. 4123-1, as last amended by Article 10 of the Act of 17 July 2017 (Federal Law Gazette I p. 2446)
Христина Майер. Корпоративное право Германии: правовые формы обществ и их преимущества для иностранных инвесторов // Германо-Российская ассоциация юристов Сборник статей о праве Германии, выпуск № 1 (август 2015 г.), www.drjv.org. – С. 149-149. (Christina Mayer. Corporate law in Germany: legal forms of companies and their advantages for foreign investors // German-Russian Association of Lawyers Collection of articles on German law, issue No. 1 (August 2015), www.drjv.org. - P. 149-149.)
A business corporation has five defining characteristics: (1) legal personality; (2) limited liability; (3) transferable shares; (4) centralised management; (5) ownership shared by equity investors. See Reinier Kraakman, Paul Davies, and Henry Hansmann, The Anatomy of Corporate Law: a Comparative and Functional Approach, (Oxford: Oxford University Press, 2009), p 5.
P Davies, Introduction to Company Law (Oxford: Oxford University Press 2010), p 9.
H M Friedman, “The Silent LLC Revolution--The Social Cost of Academic Neglect,” Bepress Legal Series (2004): 371, 391-401.
Andreas Cahn, David C. Donald. Kong. Comparative Company Law. Cambridge University Press. 2018.
B H Kobayashi and Larry E Ribstein, “Delaware for Small Fry: Jurisdictional Competition for Limited Liability Companies,” Illinois Law and Economics Research Papers Series No. LE09-017, 2009, http://illinoislawreview.org/wp-content/ilr-content/articles/2011/1/Kobayashi.pdf (accessed on August 20, 2013).
The number of the states that have adopted the ULLCA can be found at http://www.uniformlaws.org/Act.aspx?title=Limited%20Liability%20Company%20 (accessed on November 12, 2013).
Andreas Cahn, David C. Donald. Kong. Comparative Company Law. Cambridge University Press. 2018.
