Transmission of the registered shares by succession, between lex successionis and lex societatis Cover Image
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Transmisiunea părților sociale prin succesiune, între lex successionis și lex societatis
Transmission of the registered shares by succession, between lex successionis and lex societatis

Author(s): Carmen Dima
Subject(s): Civil Law, International Law, Human Rights and Humanitarian Law, EU-Legislation, Commercial Law
Published by: Uniunea Juriștilor din România
Keywords: registered shares; transmission by succession; Regulation (EU) No 650/2012 of the European Parliament and of the Council; lex successionis; lex societatis; associate; limited liability company;

Summary/Abstract: In the case of the debate by the Romanian notary public of a succession with an element of extraneity, in which the registered shares of a limited liability company are subject to succession, the successional devolution will be carried out according to the law applicable to the succession (lex successionis). The point of connection for the lex successionis is the last habitual residence of the natural person, but this person can choose the law applicable to the succession, his national law. According to the lex successionis, there will be established the heirs, but they will not automatically become associates in the limited liability company. The acquisition of the status of associate will be carried out according to the provisions of the law governing the organic status of the legal person (lex societatis), being a matter which concerns the functioning of the company, not the transmission by succession of the registered shares, which operates anyway, but an effect of devolution. The two laws may belong to different national systems of law. In the case of the application of the Romanian law, we intended to find out possible controversial aspects, presenting the doctrinal interpretations or the judicial practice ones and even trying to formulate some proposals de lege ferenda. We also tried to make a comparison with the material French corporate law, for the hypothesis in which de cujus would have registered shares in a limited liability company of French nationality.

  • Issue Year: 2022
  • Issue No: 09
  • Page Range: 9-17
  • Page Count: 9
  • Language: Romanian