Hereditary consequences following the Death of a Sole Possessor of the Capital of a Limited Liability Company  Cover Image
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Наследствени последици от смъртта на едноличния собственик на капи-тала в дружество с ограничена отговорност
Hereditary consequences following the Death of a Sole Possessor of the Capital of a Limited Liability Company

Author(s): Grigor Naydenov Grigorov
Subject(s): Law, Constitution, Jurisprudence
Published by: Институт за държавата и правото - Българска академия на науките

Summary/Abstract: Subject-matter of the article is the inheritance of the rights and obligations of the possessor of the capital as a partner in the limited liability company (LLC). The successors have option to inherit either the legator's part of the company's asset (art. 127 of Trade Act) or the membership in the LLC (art. 129, sect. 1 of Trade Act). There are different consequences about company's fate depending on the choice of the successors. If they inherit the company's asset the LLC will cease to exist. If they inherit the membership the LLC will continue existing. Art. 157, sect. 1 of Trade Act defines the conditions according to which the LLC will cease existing after the death of the sole partner. Due to the different consequences of realisation/nonrealisation of the conditions the authorpoints at some problems and makes propositions de lege ferenda.

  • Issue Year: XLIV/2003
  • Issue No: 2
  • Page Range: 35-48
  • Page Count: 14
  • Language: Bulgarian