Preemptive right of a company with a single member. Transactions and other operations with shares in the authorized capital of LLC. Shares acquired by the company

Article 21

1. The transfer of a share or part of a share in the authorized capital of a company to one or more participants in this company or to third parties is carried out on the basis of a transaction, by way of succession or on another legal basis.

2. A participant in a company has the right to sell or otherwise alienate his share or part of a share in the authorized capital of the company to one or more participants in this company. The consent of other members of the company or the company to make such a transaction is not required, unless otherwise provided by the charter of the company.

Sale or alienation in any other way of a share or part of a share in the authorized capital of a company to third parties is allowed subject to the requirements provided for by this federal law unless prohibited by the charter of the company.

3. The share of a participant in the company may be alienated before its full payment only in the part in which it is paid.

4. Members of the company shall enjoy the pre-emptive right to purchase a share or part of a share of a member of the company at an offer price to a third party or at a price different from the offer price to a third party and predetermined by the charter of the company (hereinafter referred to as the price predetermined by the charter) in proportion to the size of their shares, unless the charter of the company a different procedure for exercising the pre-emptive right to purchase a share or part of a share is provided.

The company's charter may provide for the company's preemptive right to purchase a share or part of a share owned by a member of the company at the offer price to a third party or at a price predetermined by the charter, if other members of the company have not exercised their preemptive right to purchase a share or part of the share of a company's member. At the same time, the exercise by the company of the pre-emptive right to purchase a share or part of a share at a price predetermined by the charter is allowed only on condition that the purchase price by the company of a share or part of a share is not lower than the price established for the participants of the company.

The purchase price of a share or part of a share in the charter capital may be set by the charter of the company in a fixed amount of money or on the basis of one of the criteria that determine the value of the share (cost net assets companies, the balance sheet value of the company's assets as of the last reporting date, the company's net profit, etc.). The purchase price of a share or part of a share predetermined by the charter must be the same for all participants in the company, regardless of the ownership of such a share or such part of a share in the authorized capital of the company.

Provisions establishing the pre-emptive right to purchase a share or part of a share in the authorized capital by the company's participants or the company at a price predetermined by the charter, including changing the amount of such a price or the procedure for determining it, may be provided for by the company's charter upon its establishment or when amending the company's charter by decision general meeting members of the company, adopted by all members of the company unanimously. The exclusion from the charter of the company of the provisions establishing the pre-emptive right to purchase a share or part of a share in the authorized capital of the company at a price predetermined by the charter is carried out by a decision of the general meeting of participants in the company, adopted by two thirds of the votes of the total number of votes of the participants in the company.

The charter of the company may provide for the possibility of the participants of the company or the company to exercise the pre-emptive right to purchase not the entire share or not the entire part of the share in the authorized capital of the company offered for sale. In this case, the remaining share or part of the share may be sold to a third party after partial exercise of the said right by the company or its participants at a price and on terms that were communicated to the company and its participants, or at a price not lower than the price predetermined by the charter. Provisions establishing such a possibility may be provided for by the charter of the company upon its establishment or when amendments are made to the charter of the company by decision of the general meeting of participants in the company, adopted by all participants of the company unanimously. The exclusion from the charter of the company of these provisions is carried out by decision of the general meeting of participants in the company, adopted by two-thirds of the votes of the total number of participants in the company.

The charter of the company may provide for the possibility of offering a share or part of a share in the authorized capital of the company to all participants in the company disproportionately to the size of their shares. Provisions establishing the procedure for exercising by the company's participants the pre-emptive right to purchase a share or part of a share in the authorized capital of the company disproportionately to the size of the shares of the company's participants may be provided for by the company's charter upon its establishment or when amending the company's charter by decision of the general meeting of the company's participants adopted by all the company's participants unanimously. The exclusion from the charter of the company of these provisions is carried out by a decision of the general meeting of participants in the company, adopted by a majority of at least two-thirds of the votes of the total number of votes of the participants in the company, if the need for a larger number of votes for making such a decision is not provided for by the charter of the company.

The charter of the company may not provide for the simultaneous granting of the pre-emptive right to purchase a share or part of the share of a member of the company at the offer price to a third party and the pre-emptive right to purchase a share or part of the share of a member of the company at a price predetermined by the charter. Establishing a pre-emptive right to purchase at a price predetermined by the charter in relation to an individual member of the company or a separate share or a separate part of a share in the authorized capital of the company is not allowed.

The assignment of the said pre-emptive rights to purchase a share or part of a share in the charter capital of the company is not allowed.

5. A participant in a company who intends to sell his share or part of a share in the authorized capital of the company to a third party is obliged to notify writing other participants of the company and the company itself about this by sending through the company at its own expense an offer addressed to these persons and containing an indication of the price and other conditions of sale. An offer to sell a share or part of a share in the authorized capital of the company is considered received by all participants in the company at the time it is received by the company. At the same time, it may be accepted by a person who is a member of the company at the time of acceptance, as well as by the company in cases provided for by this Federal Law. An offer shall be considered not received if, no later than on the day of its receipt by the company, the participant of the company received a notice of its withdrawal. Revocation of an offer for the sale of a share or part of a share after it has been received by the company is allowed only with the consent of all the participants in the company, unless otherwise provided by the charter of the company.

Members of the company have the right to exercise the pre-emptive right to purchase a share or part of a share in the authorized capital of the company within thirty days from the date of receipt of the offer by the company. The charter may provide for a longer period for the use of the pre-emptive right to purchase a share or part of a share in the authorized capital of the company.

If the company's charter provides for a pre-emptive right to purchase a share or part of a share by the company, it must establish the terms for the use of the pre-emptive right to purchase a share or part of a share by the company's participants and the company.

If individual members of the company refuse to use the pre-emptive right to purchase a share or part of a share in the authorized capital of the company or use their pre-emptive right to purchase not the entire share offered for sale or not the entire part of the share offered for sale, other participants in the company may exercise the pre-emptive right to purchase a share or part of the share in the authorized capital of the company in the relevant part in proportion to the size of their shares within the remaining part of the period for exercising their pre-emptive right to purchase a share or part of a share, unless otherwise provided by the charter of the company.

6. The pre-emptive right to purchase a share or part of a share in the charter capital of the company from a participant and, if the company's charter provides, the pre-emptive right to purchase by the company a share or part of a share from the company shall terminate on the day:

submission of a written application for refusal to use this pre-emptive right in the manner prescribed by this paragraph;

expiration of the period of use of this pre-emptive right.

Applications of the company's participants to refuse to use the pre-emptive right to purchase a share or part of a share must be received by the company before the expiration of the period for exercising the said pre-emptive right established in accordance with paragraph 5 of this article. The company's statement on the refusal to use the pre-emptive right provided for by the charter to purchase a share or part of a share in the authorized capital of the company is submitted within the time period established by the charter to the company participant who sent the offer to sell the share or part of the share, the sole executive body company, if the solution of this issue is not assigned by the charter of the company to the competence of another body of the company.

The authenticity of the signature on the application of a member of the company or the company on the refusal to use the pre-emptive right to purchase a share or part of a share in the authorized capital of the company must be certified by a notary.

7. If within thirty days from the date of receipt of the offer by the company, provided that a longer period is not provided for by the charter of the company, the participants in the company or the company do not use the pre-emptive right to purchase a share or part of a share in the authorized capital of the company offered for sale, in including those resulting from the use of the pre-emptive right to purchase not the entire share or not the entire part of the share, or the refusal of individual participants in the company and the company from the pre-emptive right to purchase a share or part of a share in the authorized capital of the company, the remaining share or part of the share may be sold to a third party at a price, which is not lower than the price established in the offer for the company and its participants, and on the terms that were communicated to the company and its participants, or at a price that is not lower than the price predetermined by the charter. If the predetermined price for the purchase of a share or part of a share by the company differs from the predetermined price for the purchase of a share or part of a share by the members of the company, the share or part of the share in the authorized capital of the company may be sold to a third party at a price that is not lower than the predetermined purchase price of the share or part of the share of the company.

8. Shares in the authorized capital of the company shall pass to the heirs of citizens and to the legal successors of legal entities that were participants in the company, unless otherwise provided by the charter of the company with limited liability. The charter of the company may provide that the transfer of a share in the authorized capital of the company to the heirs and successors of legal entities that were participants in the company, the transfer of a share owned by a liquidated legal entity, its founders (participants) who have rights in rem to its property or rights of obligation in relation to this legal entity are allowed only with the consent of the other members of the company. The charter of the company may provide for a different procedure for obtaining the consent of the company's participants to the transfer of a share or part of a share in the authorized capital of the company to third parties, depending on the grounds for such a transfer.

Until the heir of the deceased participant of the company accepts the inheritance, the management of his share in the authorized capital of the company is carried out in the manner prescribed by the Civil Code Russian Federation.

9. When selling a share or part of a share in the authorized capital of a company with public auction the rights and obligations of a company participant in respect of such a share or part of a share shall be transferred with the consent of the company participants.

10. If this Federal Law and (or) the charter of the company provides for the need to obtain the consent of the participants in the company to transfer a share or part of a share in the authorized capital of the company to a third party, such consent is considered received provided that all participants in the company within thirty days or another period specified by the charter from the date of receipt of the relevant request or offer by the company, written statements of consent to the alienation of a share or part of a share on the basis of a transaction or to the transfer of a share or part of a share to a third party on another basis or within the specified period are submitted to the company written statements on refusal to give consent to the alienation or transfer of a share or part of a share are not submitted.

If the company's charter provides for the need to obtain the company's consent to the alienation of a share or part of a share in the authorized capital of the company to the company's participants or third parties, such consent is considered to be received by the company's participant alienating the share or part of the share, provided that within thirty days from the date of appeal to the company or within another period specified by the charter of the company, he received the consent of the company, expressed in writing, or the company did not receive a refusal to give consent to the alienation of a share or part of a share, expressed in writing.

11. A transaction aimed at alienating a share or part of a share in the authorized capital of a company is subject to notarization. Failure to comply with the notarial form entails the invalidity of this transaction.

Notarization of this transaction is not required in cases of the transfer of a share to the company in the manner provided for in Articles 23 and 26 of this Federal Law, the distribution of the share between the participants in the company and the sale of the share to all or some of the participants in the company or to third parties in accordance with Article 24 of this Federal Law, and also when using the pre-emptive right to purchase by sending an offer for the sale of a share or part of a share and its acceptance in accordance with paragraphs 5-7 of this article.

If a member of the company who has entered into an agreement establishing an obligation to make, in the event of certain circumstances or the fulfillment by the other party of a counter obligation, a transaction aimed at alienating a share or part of a share in the authorized capital of the company, unlawfully evades notarization of a transaction aimed at alienating a share or part of a share in the authorized capital the capital of the company, the acquirer of a share or part of a share, who has committed actions aimed at the execution of the said agreement, has the right to demand in judicial order transfer to him of a share or part of a share in the authorized capital of the company. In this case, the decision of the arbitration court on the transfer of a share or part of a share in the authorized capital of the company is the basis for the state registration of the relevant changes made to the unified state register of legal entities.

A transaction aimed at alienating a share or part of a share in the authorized capital of the company, in pursuance of an option to conclude an agreement, can be made by a separate notarization of an irrevocable offer (including by notarization of an agreement on granting an option to conclude an agreement), and subsequently notarization of acceptance .

An irrevocable offer is considered accepted from the moment of notarization of acceptance. After notarization of the acceptance, the notary is obliged, within two working days from the date of certification of the acceptance, to send the offeror a notice of the acceptance.

If an irrevocable offer is made under a resolutive or suspensive condition, the acceptor shall submit to the notary certifying the acceptance evidence confirming the non-occurrence or occurrence of the relevant condition.

12. A share or part of a share in the charter capital of a company shall be transferred to its acquirer from the moment an appropriate entry is made in the Unified State Register of Legal Entities, except for the cases provided for in Clause 7 of Article 23 of this Federal Law. Making an entry in the unified state register of legal entities on the transfer of a share or part of a share in the company's authorized capital in cases that do not require notarization of a transaction aimed at alienating a share or part of a share in the company's authorized capital is carried out on the basis of title documents.

The acquirer of a share or part of a share in the authorized capital of the company shall be transferred all the rights and obligations of a member of the company that arose before the transaction aimed at alienating the specified share or part of the share in the authorized capital of the company, or before the emergence of another basis for its transfer, with the exception of rights and obligations, provided for, respectively, in paragraph two of clause 2 of Article 8 and paragraph two of clause 2 of Article 9 of this Federal Law. A participant in a company that has alienated its share or part of a share in the authorized capital of the company shall be liable to the company for making a contribution to the property that arose before the transaction aimed at alienating the said share or part of the share in the authorized capital of the company, jointly with its acquirer.

After notarization of a transaction aimed at alienating a share or part of a share in the authorized capital of a company, or in cases that do not require notarization, from the moment the relevant changes are made to the Unified State Register of Legal Entities, the transfer of a share or part of a share can only be challenged in court by bringing a claim to arbitration.

13. A notary performing notarization of a transaction aimed at alienating a share or part of a share in the authorized capital of a company checks the authority of the person alienating them to dispose of such shares or part of the share.

The authority of the person alienating a share or part of a share in the authorized capital of the company to dispose of them is confirmed by a notarized agreement on the basis of which such a share or part of a share was previously acquired by the relevant person, as well as an extract from the unified state register legal entities, containing information on the ownership of a share or part of a share in the authorized capital of the company by the person and on their size. If a person alienating a share or part of a share in the authorized capital of the company, in order to confirm the authority to dispose of such shares or a part of the share, submits a duplicate of a notarized agreement, the said extract must be drawn up no earlier than ten days before the day of applying to a notary for notarization of the transaction. If a share or part of a share was received by succession or in other cases that do not require or previously did not require notarization, the authority of the person alienating such a share or part of a share in the authorized capital of the company to dispose of them is confirmed by a document on the transfer of the share or part of the share to in the order of succession or a document expressing the content of a transaction made in a simple written form, or when a company is created by one person, by the decision of the sole founder (participant) on the creation of the company, as well as an extract from the unified state register of legal entities, compiled no earlier than thirty days before the day contacting a notary for notarization of the transaction. In the event that a share or part of a share in the authorized capital of a company is alienated by the founder of a company founded by several persons, his powers are confirmed by a notarized copy of the agreement on the establishment of the company, as well as an extract from the unified state register of legal entities, compiled no earlier than within thirty days before the day of contacting a notary for notarization of the transaction.

A notary who performs notarization of a transaction aimed at alienating a share or part of a share in the authorized capital of the company shall put on the notarized agreement on the basis of which the alienated share or part of the share was previously acquired, a note on the transaction for the transfer of such a share or part of the share.

14. A notary who certified an agreement on the alienation of a share or part of a share in the authorized capital of a company or an acceptance of an irrevocable offer, within two working days from the date of this certification, if a longer period is not provided for by the agreement, submits to the body that carries out state registration of legal entities, an application for making appropriate changes to the unified state register of legal entities.

If, under the terms of an agreement aimed at the alienation of a share or part of a share in the authorized capital of a company, such a share or such part of a share passes to the acquirer with the establishment of a pledge or other encumbrances at the same time or with the preservation of the previously arisen pledge, in the application for making appropriate changes to the unified state register legal entities, the corresponding encumbrances are indicated.

The application is sent to the body carrying out the state registration of legal entities in the form electronic document signed by enhanced qualified electronic signature a notary who certified an agreement aimed at alienating a share or part of a share in the authorized capital of the company.

15. Within a period not later than within three days from the date of notarization of the transaction aimed at alienating a share or part of a share in the authorized capital of the company, the notary who performed its notarization performs a notarial action to transfer to the company, alienate the share or part of the share in the authorized capital the capital of which is carried out, copies of the application provided for in paragraph 14 of this article.

By agreement of the persons making a transaction aimed at the alienation of a share or part of a share in the authorized capital of the company, the company, the alienation of a share or part of a share in the authorized capital of which is being carried out, may be notified of this by one of the indicated persons making the transaction. In this case, the notary is not liable for failure to notify the company of the completed transaction.

16. Within three days from the date of receipt of the consent of the participants of the company, provided for in paragraphs 8 and 9 of this article, the company and the body carrying out state registration of legal entities must be notified of the transfer of a share or part of a share in the authorized capital of the company by sending an application for making the appropriate changes to the unified state register of legal entities, signed by the legal successor of the reorganized legal entity - a member of the company, or by a member of a liquidated legal entity - a member of the company, or by the owner of the property of the liquidated institution, state or municipal unitary enterprise- a member of the company, or by the heir or before the acceptance of the inheritance by the executor of the will, or by a notary, with the attachment of a document confirming the basis for the transfer of rights and obligations in the order of succession or transfer of a share or part of a share in the authorized capital of the company owned by the liquidated legal entity, its founders (participants ) having rights in rem to property or rights of obligations in relation to this legal entity.

17. If a share or part of a share in the charter capital of a company was acquired for a fee from a person who did not have the right to alienate it, which the acquirer did not know and could not know about (a bona fide purchaser), the person who lost the share or part of the share is entitled to demand recognition for him the right to this share or part of the share in the authorized capital of the company with simultaneous deprivation of the right to this share or part of the share of the bona fide purchaser, provided that this share or part of the share was lost as a result of unlawful actions of third parties or otherwise beyond the will of the person who lost the share or part of the share.

If a person who has lost a share or part of a share in the authorized capital of the company refuses to satisfy the specified claim brought against a bona fide purchaser, the share or part of the share is recognized as belonging to the bona fide purchaser from the moment of notarization of the relevant transaction that served as the basis for acquiring such a share or part of the share. In the event that a share or part of a share is acquired by a bona fide purchaser at a public auction, it is recognized as belonging to a bona fide purchaser from the moment the corresponding entry is made in the unified state register of legal entities.

The claim for the recognition of the right to this share or part of the share of the person who has lost a share or part of the share and, at the same time, the deprivation of the right to this share or part of the share of a bona fide purchaser, which is provided for by this paragraph, may be filed within three years from the date when the person who has lost a share or part of a share, has learned or should have learned about the violation of his rights.

18. When selling a share or part of a share in the authorized capital of a company in violation of the pre-emptive right to purchase a share or part of a share, any participant or participants in the company or, if the company's charter provides for the pre-emptive right to purchase a share or part of a share by the company, the company within three months from the date when the participant or participants of the company or the company learned or should have learned about such a violation, has the right to demand in court that the rights and obligations of the buyer be transferred to them. The arbitration court hearing the case on the said claim provides other members of the company and, if the company's charter provides for the company's pre-emptive right to purchase a share or part of a share, the company has the opportunity to join the previously filed claim, for which, in the ruling on preparing the case for trial, it sets a time limit within during which other members of the company and the company itself, which meet the requirements of this Federal Law, may join the stated requirement. This period may not be less than two months.

If the charter of the company provides for the pre-emptive right to purchase a share or part of a share in the authorized capital of the company at a price predetermined by the charter, the person to whom the rights and obligations of the buyer are transferred shall reimburse the expenses incurred by the buyer in connection with the payment of the share or part of the share in the authorized capital company, in an amount not exceeding the purchase price of a share or part of a share predetermined by the charter. A court decision on the transfer of a share or part of a share to a company participant or company is the basis for state registration of the relevant changes made to the unified state register of legal entities.

In the event of the alienation or transfer of a share or part of a share in the authorized capital of the company on other grounds to third parties in violation of the procedure for obtaining the consent of the participants in the company or company provided for by this article, as well as in the event of a violation of the prohibition to sell or otherwise alienate a share or part of the share, the participant or the participants of the company or the company have the right to demand in court the transfer of a share or part of a share to the company within three months from the day when they learned or should have learned about such a violation. In this case, in the event of the transfer of a share or part of a share to the company, the expenses incurred by the acquirer of the share or part of the share in connection with its acquisition shall be reimbursed by the person who alienated the share or part of the share in violation of the specified procedure.

The decision of the court on the transfer of a share or part of a share to the company is the basis for the state registration of the corresponding change. Such a share or part of a share in the authorized capital of the company must be sold by the company in the manner and within the time limits established by Article 24 of this Federal Law.

Aleksandrova Svetlana Ninelievna, PhD in Law, Associate Professor of the Department of Business Law, Civil and Arbitration Procedure, Russian Law Academy of the Ministry of Justice of Russia.

The article discusses the legal nature and the procedure provided for by law for the participants of an LLC to exercise the pre-emptive right to purchase a share (part of a share) offered for sale to a third party (non-participant of the company). The moment from which the share (part of the share) is considered to have passed to the acquirer is being studied. The rights that a new participant acquires from the moment of notarization of the purchase and sale transaction are differentiated, and those that appear after he makes an entry about the change in the composition of the company's participants in the Unified State Register of Legal Entities. The legitimacy and effectiveness of such a method of protecting the rights of a participant whose pre-emptive right to purchase a share (part of a share) has been violated, as a transfer to him of the rights and obligations of the buyer of a share (part of a share), are analyzed.

Key words: preemptive right to purchase; share in the authorized capital; notarization of the transaction; alienation of shares to a third party.

Preemptive right to purchase a share (a part of the share) in the authorized capital of a Limited liability Company: recent trends in arbitrazh jurisprudence

S.N. Aleksandrova

Aleksandrova Svetlana Ninelyevna, candidate of laws, associate professor of entrepreneurial law, civil law and arbitrazh procedure department of Russian legal academy of the Ministry of Justice of the Russian Federation.

This article covers topic about legal nature and the legal procedure of implementation an option of purchasing of share (or a part of it), by members of OOO when the share was offered to third party (who is not a member of OOO). The author researches the moment when a share (or its part) is considered to be passed to a purchaser. The article also differentiates rights, which a new member get from the moment when the deal was notarially authenticated and the rights which he get after the sign into the register of legal entities was included. The author has also analyzed legality and efficiency such safety measure of member's rights whose option was infringed as transfer of rights to him from the purchaser of a share (or its part).

Key words: option of purchase; share in the authorized capital; notarial authentication of a deal; disposal of a share to a third person.

Amendments to the Federal Law of February 8, 1998 N 14-FZ "On Limited Liability Companies" (hereinafter - the Law on LLC)<1>were introduced quite a long time ago, but the practice of applying its individual provisions continues to take shape. So it happened with the rules on the pre-emptive right to purchase a share (part of a share) by participants in an LLC offered for sale over third parties. In July 2011, the Supreme Arbitration Court of the Russian Federation, considering a specific case, made conclusions that may affect the further practice of applying the rules on the preemptive right to purchase in an LLC<2>.

<1>SZ RF. 1998. N 7. Art. 785. At the time the magazine went to press, the President of the Russian Federation signed Federal Law No. 405-FZ of December 6, 2011 “On Amending Certain Legislative Acts of the Russian Federation in Part of Improving the Procedure for Foreclosing Mortgaged Property,” which amended Art. 25 of the LLC Law.
<2>

The LLC Law does not contain a definition of the pre-emptive right to purchase when selling a share (part of a share) in the charter capital of an LLC. At the same time, the issues of realization by LLC participants of the right to sell a share (part of a share) in the authorized capital of the company received sufficient coverage in the legal literature.<3>. Thus, some authors note that the pre-emptive right to purchase in relations for the alienation of shares in the authorized capital of an LLC should be understood as the legal possibility of the participants in the company or the company itself to acquire a share or part of a share in the authorized capital of the company in the event of their alienation as a matter of priority and on conditions, determined by the constituent documents of the company and the agreement on the alienation of the share<4>.

<3>See, for example: Gongalo B.M. Share in the authorized capital of the company and its official alienation // Notarial Bulletin. 2010. No. 4; Frolovsky N.G. New rules for the alienation of a share in the authorized capital of an LLC: a commentary on certain provisions of the legislation // Civilist. 2009. No. 3; Ilyushina M.N., Aleksandrova A.A. Notarial activity in case of alienation of shares in the authorized capital of limited liability companies: Tutorial. M.: RPA of the Ministry of Justice of Russia, 2009.
<4>See: Kamyshansky V.P., Volkova E.V. Implementation of pre-emptive rights in relations for the alienation of property // Modern law. 2010. No. 6.

There is another definition. The pre-emptive right to purchase can be understood as belonging to the participants (members) of the corporation, as well as in cases established by law, to the legal entity itself, the legal possibility of privileged (before all third parties) acquisition of property (share, part of the share) alienated by another member of the company<5>.

<5>See, for example: Kuznetsova L.V. Preemptive rights in the civil law of Russia: Monograph. M., 2007. S. 130.

Both definitions are united by one common idea: content this right consists in the possibility of the company's participants to acquire a share (part of a share) if other participants intend to sell a share (part of a share) to a third party.

Preemptive rights occupy a special place among the rights that make up the content of corporate relations. We should agree with the opinion of L.V. Kuznetsova that the preemptive right to purchase that exists in corporate legal relations is an important guarantee of the rights and legitimate interests of participants in civil transactions<6>. According to the fair statement of D.V. Lomakin, while the rights of the participant related to the disposal of shares should not be violated<7>therefore, the pre-emptive right can be exercised by other participants only on the terms of the alienation of shares to a third party. Otherwise, the exercise of the right will take place with going beyond its limits, i.e. abuse of right.

<6>See: Kuznetsova L.V. Decree. op. S. 129.
<7>See: Lomakin D.V. Corporate Legal Relations: General Theory and Practice of Its Application in Business Companies. M.: Statut, 2008. S. 404.

Thus, the main purpose of the existence of a pre-emptive right to purchase in corporate legal relations is to ensure the legitimate interest of a corporation participant in maintaining and increasing the share of its participation and, as a result, the degree of influence in decision-making in the company (participation in the management of the company).

The subjects of this right by virtue of law are the participants in the LLC and the company itself (provided that such a possibility is enshrined in the charter of the company). As follows from paragraph 4 of Art. 21 of the LLC Law, members of the company enjoy the pre-emptive right to purchase a share or part of a share of a member of the company at an offer price to a third party or at a price different from the offer price to a third party and predetermined by the charter of the company in proportion to the size of their shares, unless the charter of the company provides for a different procedure for exercising the preferential the right to purchase a share or part of a share.

The pre-emptive right to purchase is closely connected with the implementation of another subjective right - to sell one's share to a third party (non-participant of the company). With regard to this action of an LLC participant, corporate legislation contains special rules and restrictions. Firstly, such an opportunity should be directly provided for by the charter of the company (clause 1, article 8, clause 2, article 21 of the LLC Law). At the same time, a member of the company has the right to fully dispose of only the paid part of his share (clause 3, article 21 of the LLC Law).

Secondly, if the charter provides for the right of a participant to sell a share to a third party, then not only participants, but also the company itself may have the pre-emptive right to purchase if this is provided for by the charter (clause 4, article 21 of the LLC Law). It is typical for the pre-emptive right that it is established unilaterally by an imperative legislative norm. In this case, the assignment of the pre-emptive right is not allowed. The pre-emptive right to purchase does not apply to companies with one participant, since in such a situation, when a share (part of a share) is alienated by a single participant, there will be no violation of the pre-emptive right.

Thirdly, a participant who intends to sell his share to a third party is obliged to notify the other participants and the company itself about this by sending through the company at his own expense an offer addressed to these persons and containing an indication of the price and other conditions of sale (paragraph 5 of article 21 of the Law about LLC). Members of the company may exercise their pre-emptive right to purchase within 30 days from the date of receipt of the offer or refuse it. After the participants (company) have exercised their right or waived it in writing, the share or part of the share may be sold to a third party.

Fourthly, an agreement on the sale of a share (or part of a share) in the authorized capital of an LLC to a third party requires notarization. Failure to comply with the notarial form entails the invalidity of this transaction (clause 11, article 21 of the LLC Law).

The share (part of the share) in the authorized capital of the company passes to its acquirer from the moment the transaction is notarized (clause 12, article 21 of the LLC Law). From the same moment, the acquirer of a share or part of a share in the authorized capital of the company shall transfer all the rights and obligations of a member of the company that arose prior to the transaction aimed at alienating the specified share or part of the share in the authorized capital of the company, or before the emergence of another basis for its transfer. After notarization of a transaction aimed at alienating a share, the transfer of a share or part of it can only be challenged in court by filing a claim with an arbitration court.

In this regard, it is interesting to consider the position of the Supreme Arbitration Court of the Russian Federation in Resolution No. 2600/11 of July 27, 2011. The crux of the matter was as follows.

The sole participant of the LLC is Z. with a share of 100% authorized capital On June 26, 2009, he decided to sell his entire share in the authorized capital to two buyers. Accordingly, citizen L. - a share in the amount of 51% of the authorized capital, citizen D. - a share in the amount of 49% of the authorized capital. Then, in pursuance of this decision, on August 25, 2009, he entered into an agreement for the sale of part of the share for 5,100 rubles. with citizen L., and a week later, on September 2, 2009, with citizen D. for 4,900 rubles. Both agreements were notarized on the day they were signed.

Believing that the contract for the sale of a part of the share in the amount of 49% of the authorized capital dated September 2, 2009 was concluded in violation of his pre-emptive right to acquire this part of the share, citizen L. filed a claim with the arbitration court for the transfer of the rights and obligations of the buyer shares under the agreement. He followed the provisions of Art. 21 of the LLC Law that a share or part of a share in the authorized capital is transferred to its acquirer from the moment the transaction for the alienation of the share is notarized. Consequently, at the time of the sale of the share to the second buyer, the plaintiff was already a member of the company.

The above situation became the subject of three judicial instances. By the decision of the Arbitration Court of the Kaliningrad Region dated April 2, 2010, the claim was dismissed. By the decision of the Thirteenth Arbitration Court of Appeal dated July 22, 2010, the decision of the court of first instance was upheld. Federal Arbitration Court Northwestern District By a decision of November 12, 2010, the decision of the court of first instance and the decision of the court of appeal were upheld.

In refusing to satisfy the claim, the court of first instance proceeded from the fact that the transfer of Z.'s share to L. and D. was connected with Z.'s decision to sell it to the indicated persons. The court considered that, since this decision was made on the same day - June 26, 2009, both transactions were made in pursuance of this decision and at the time of its adoption, L. was not a member of the company and had no preemptive right to acquire the share sold by D. arose. In addition, in the preamble to the first contract of sale, it was indicated that the seller owns 51% of the authorized capital of the company, which was the subject of the sale. The courts of appeal and cassation agreed with this position.<8>.

<8>See: Resolution of the Federal Antimonopoly Service of the North-Western District of November 12, 2010 in case N A21-13577 / 2009 // Consultant Plus SPS.

By definition of the Supreme Arbitration Court of the Russian Federation dated May 16, 2011 N VAC-2600/11, case N A21-13577/2009 was transferred to the Presidium of the Supreme Arbitration Court of the Russian Federation for review by way of supervision of the contested judicial acts as violating uniformity in the interpretation and application of the rules of law by arbitration courts<9>. The Presidium of the Supreme Arbitration Court of the Russian Federation considered that the conclusions of the courts that the first buyer did not have a pre-emptive right to purchase a share in the authorized capital was based on the incorrect application of the provisions of paragraph 12 of Art. 21 of the LLC Law.

In the Decree, the Presidium of the Supreme Arbitration Court of the Russian Federation indicated that the courts of three instances, when making decisions, did not take into account that the transfer of a share to the acquirer is connected with its notarization, and not with the decision by the participant to alienate the share. The transfer of a share to the acquirer means the emergence of the rights and obligations of a member of the company, including the pre-emptive right to purchase a share transferred to a third party. The contract concluded between the seller and the first buyer was certified by a notary on the day of its signing, therefore, it was from this date that the buyer acquired the rights of an LLC participant and, as a result, the pre-emptive right to purchase the second part of the share offered for sale. As a result, the Presidium of the Supreme Arbitration Court of the Russian Federation canceled all judicial acts of lower instances and decided to satisfy the claims of the first buyer (plaintiff) and transfer the rights and obligations of the second buyer (defendant) to him<10>.

<10>See: Resolution of the Presidium of the Supreme Arbitration Court of the Russian Federation of July 27, 2011 N 2600/11 // ATP "ConsultantPlus".

The significance of this Decree cannot be overestimated: the Presidium of the Supreme Arbitration Court of the Russian Federation clearly defined the legal force and role of documents in a share purchase and sale transaction; emphasized that it is the notarization of the share purchase and sale agreement that entails the onset of legal consequences in the form of the transfer of ownership of the share (part of the share), as well as the acquisition of the rights and obligations of a member of the company. At the same time, the decision of the sole participant does not have such legal force and does not affect the acquisition of ownership of the share. Moreover, it does not matter whether such a decision was made on the same day or there is a time interval between them.

However, the situation described above revealed certain problems in the application of Art. 21 of the LLC Law.

Firstly, the buyer of a share does not have the opportunity to exercise all the rights of a member of the company immediately after the notarization of the contract of sale. In particular, he cannot immediately assign (sell) his share (part of the share). As follows from the provisions of paragraph 13 of Art. 21 of the Law on LLC, the authority of a person to alienate a share must be confirmed not only by a notarized agreement, but also by an extract from the Unified State Register of Legal Entities (hereinafter referred to as the Unified State Register of Legal Entities) containing information about the person's ownership of a share (part of a share) in the authorized capital of the company and about its size. Therefore, before making an entry on the ownership of a share in Unified State Register of Legal Entities will not be able to cede the share, since his authority will not be confirmed. In this regard, one should agree with the opinion of R.S. Fatkhutdinov that a notarized transaction alone is not enough. To transfer the share to the acquirer, you will also need such necessary legal fact, as a notification of the registering authority on the assignment of a share<11>. To exclude situations similar to the one under consideration, the LLC Law obliges a notary to check the authority of a person alienating a share or part of a share in the authorized capital of a company to dispose of shares or a part of it.

<11>See: Fatkhutdinov R.S. Assignment of a share in the authorized capital of LLC: theory and practice: Monograph. M.: Wolters Kluver, 2009. S. 124.

Secondly, the authority of the person alienating a share or part of it to dispose of it is confirmed by a notarized agreement on the basis of which such a share or part of it was previously acquired, documents confirming the rights to a share or part of a share from the seller, as well as an extract from the USRR drawn up no earlier than 30 days before the day of contacting a notary to certify the transaction. It turns out that in the case considered above, citizen Z. (the original owner of a 100% stake in the authorized capital of an LLC), concluding contracts for the sale of part of the share with the first and second buyers, submitted the established documents to notaries and the notaries certified the transactions. This means that in the week that was between the two sales transactions, he managed to make sure that the corresponding changes were reflected in the register. And if in the case under consideration, apparently, this was done, but if the interval between transactions was shorter, then the first acquirer could hardly count on the transfer of rights and obligations to him.

The fact is that there is always a temporary break between the notarization of the transaction and the making of the corresponding entry in the Unified State Register of Legal Entities. After notarization of a transaction aimed at alienating a share or part of a share in the authorized capital of a company, the notary, no later than three days from the date of such certification, must submit an application for making appropriate changes to the Unified State Register of Legal Entities to the body that carries out state registration of legal entities. The said application must be signed by the member of the company alienating its share (clauses 14, 15, article 21 of the LLC Law). It seems that prior to making this entry, a new member of the company is not entitled to exercise its rights as a member, including the right to preemptively acquire a share sold by another member to a third party.

Thirdly, the special literature has long discussed the legitimacy of using such a method of protection as transferring to a person whose pre-emptive right to purchase was violated the rights and obligations of the buyer in a transaction for the sale of a share (part of a share) in the authorized capital. Thus, the opinion is expressed that it is wrong to be guided by the rules on the alienation of property encumbered with obligations when alienating a share, since the alienated share is not burdened with obligations in the interests of other participants. They only have a pre-emptive right to conclude a contract for the sale of a share in comparison with third parties<12>. In the share purchase agreement, the seller's obligation to general rule is considered executed at the time of notarization of the transfer of the share and the termination of such an agreement takes place. That is, the logic boils down to the fact that both the seller and the buyer of a share are bona fide participants in legal relations, therefore, in the event of a violation of the pre-emptive right to purchase, the institution of buying out a share from a bona fide buyer should be used as a method of protection.<13>. This position appears to be controversial. Without delving into theoretical basis and the background of this opinion, which may be the subject of separate consideration, it should be noted that the seller of a share who has not fulfilled his obligations to notify other participants of his intention to sell his share to a third party, as well as the price and conditions of the sale, can hardly be called a bona fide person. And due to the unique specifics of corporate relations, it seems inefficient to demand from him the usual compensation for losses, and from the acquirer of the share - to sell it to the participants of the LLC. In this case, the violated rights of the participants will not be restored: the right to participate in the management of the company and receive part of its profit is a privilege of a company participant, which follows from the possession of a share (part of a share) in the authorized capital of an LLC.

<12>See: Lomakin D.V. Decree. op. S. 410.

ConsultantPlus: note.

<13>See: Sklovsky K.I., Smirnova M.I. The Institute of Preemptive Purchase in Russian and Foreign Law // Economy and Law. 2006. No. 10.

Thus, the practice of applying certain norms of the LLC Law continues to evolve, and there is a need for detailed explanations from the highest judicial instances regarding the application of its individual institutions in order to level theoretical and practical problems.

Bibliographic list

1. Gongalo B.M. Share in the authorized capital of the company and its official alienation // Notarial Bulletin. 2010. No. 4.
2. Ilyushina M.N., Aleksandrova A.A. Notarial activity in the process of alienation of shares in the authorized capital of limited liability companies: Textbook. M.: RPA of the Ministry of Justice of Russia, 2009.
3. Kamyshansky V.P., Volkova E.V. Implementation of pre-emptive rights in relations for the alienation of property // Modern law. 2010. No. 6.
4. Kuznetsova L.V. Preemptive rights in the civil law of Russia: Monograph. M., 2007.
5. Lomakin D.V. Corporate Legal Relations: General Theory and Practice of Its Application in Business Companies. M.: Statute, 2008.

ConsultantPlus: note.

The article by K. Sklovsky, M. Smirnova "Institute of preemptive purchase in Russian and foreign law" is included in information bank according to the publication - "Economy and Law", 2003, N 10, 11.

1. Sklovsky K.I., Smirnova M.I. The Institute of Preemptive Purchase in Russian and Foreign Law // Economy and Law. 2006. No. 10.
2. Fatkhutdinov R.S. Assignment of a share in the authorized capital of LLC: theory and practice: Monograph. Moscow: Wolters Kluver, 2009.
3. Frolovsky N.G. New rules for the alienation of a share in the authorized capital of an LLC: a commentary on certain provisions of the legislation // Civilist. 2009. N 3.

• Deal processing mechanism

The procedure for the transfer or alienation of a share or part thereof in the authorized capital of a company is described in Civil Code RF and Law No. 14-FZ of 08.02. 1998 on "Limited Liability Companies". Consequently, the sale, transfer and other methods of alienation of a share or part of it in the authorized capital of a company take place subject to compliance with the requirements provided for in the named legislative acts, unless the Charter of the organization provides otherwise. Further, we will often use such a term as alienation, which means a legal transaction, as a result of which one of the participants in the company sells, donates or otherwise transfers its share or part of the share of the authorized capital to another member of the company, or to third parties.

In accordance with the 2nd part of Art. 21 of the 1998 Law on LLC, one of the founders may alienate his share or part of it in the authorized capital of the company to one or more participants in this company, also to the company itself, or in favor of third parties. For the first two cases, when the alienation is made in favor of the participants or the company, the consent of the remaining members of the company is not required, unless otherwise provided in the charter of the organization. As for the alienation or sale in favor of third parties, a ban on such alienation can often be introduced into the Charter of an LLC in order to harmonize the will of its participants, to protect the interests of the company and its members.

Preemptive right to acquire a share or part of a share in the charter capital of an LLC

Members of the company have a pre-emptive right to acquire (PPP) a share or part of it in the authorized capital of the organization, i.e. if one of the participants is going to sell his share, then first of all, he must offer to purchase it to the rest of the participants in the company. The participants of the organization and the organization itself have the pre-emptive right to acquire a share or a part of the share of the authorized capital. The procedure for the implementation of the TPP and the period during which members of the company can take advantage of this benefit are described in the Law of 1998 on LLC and the Articles of Association of the company. If none of the participants took advantage of the preemptive right, the proposal may be transferred to third parties. Also, the charter itself may take into account the right to purchase the share of the participant by the company itself, in case of refusal of the remaining participants or untimely use of the share of the authorized capital by the PPP.

A member of the company who is going to sell his share must, in without fail notify in writing all other participants of the organization or one participant, if it is the founder or the company itself. This procedure was expanded by Law No. 312-FZ of 2008, now the notification of the intention to sell one's share is carried out only through the company itself and is called an offer. The offer contains essential conditions contract, the subject of the transaction, the price and other conditions of sale are indicated. At the moment when the company has received the offer, it is considered to be delivered. If the participant withdraws the offer back before it is received, it is considered not received, in this situation an additional notice is drawn up. Participants have the right to use the PPP share within 30 days from the date of receipt of the offer by the company, or within another period determined by the Charter of the LLC.

Sometimes the charter of the organization may provide for the pre-emptive right to purchase a share by the company. If the participants did not use their right within the specified period or unanimously renounced the pre-emptive right to purchase, the company within seven days from the expiration of the specified period or the moment the refusal was received sends an acceptance to the participant of the company. If no one took advantage of the pre-emptive right, neither the participants nor the company, it is possible to offer a share to third parties, at the price that was indicated in the offer.

Deal processing mechanism

In accordance with the Law of 2008 No. 312-FZ, a transaction aimed at alienating a share or part of a share in the authorized capital must be notarized. In the Civil Code of the Russian Federation, notarial certification of a transaction means checking the legality of the transaction, including the availability of the right to make it for each of its parties, and is carried out by a notary or an official who has the right to perform such a notarial action. Notarization is a mandatory procedure, its non-compliance entails the invalidity of the transaction.

Transactions aimed at the alienation of a share or part of a share in the authorized capital of an LLC, when using the PPP share, including when an offer is sent to the company's participants, and an acceptance in response, are subject to notarization. There are a number of cases when a transaction does not need to be notarized. The participants in the transaction have the right to independently decide on the notarial certification of such transactions. But if by agreement of the parties it was decided to notarize such a transaction, then in accordance with the Civil Code of the Russian Federation such a transaction is subject to mandatory notarization. The Law of 2015 No. 67-FZ lists the cases that do not require certification of transactions: transfer of a share or part of a share to a company; in cases of distribution of a share between the participants of the company and sale of a share to all or some participants of the company or third parties.

In order to protect the interests of the parties to the transaction, the Civil Code of the Russian Federation provides for consequences in case of evasion from notarization of the transaction or state registration. If one of the parties fails to notarize the transaction, and the other party has fulfilled this condition in whole or in part, then the latter has the right to demand that the court recognize the transaction as valid. If one of the parties refuses state registration, the court, at the request of the other party, has the right to make a decision on its registration. The party that refuses state registration or notarization of the transaction must compensate the other party for losses.

In order for a notary to certify a transaction aimed at alienating a share or part of a share in the authorized capital of an LLC, it is recommended to prepare and provide the notary with the following package of documents:

• Articles of association;
• Decision to establish a company (if the founder is one);
• Agreement on the establishment of a company (if there are several founders);
• Extract from the Unified State Register of Legal Entities containing information that the share belongs to the participant;
• Notarized agreement on the acquisition of a share;
• A document confirming the payment of a share by the alienating person, for example, a receipt from a bank;
• A document confirming compliance with the rules for using the PPP of the company's share established by the 1998 Law on LLC and the Statutory Company;
• Consent of the spouse to the alienation and purchase of a share of the company.

The list of documents listed above is not complete and final; according to the recommendations of a notary, it can be supplemented depending on the specific case.

A notary, before notarizing a transaction aimed at alienating a share or part of a share in the authorized capital of a company, is obliged to check the authority of the alienating person to terminate the share, whether the alienated share has been fully paid. The unpaid share may be transferred only in the part in which it was paid.

How and who can submit documents to the Unified State Register of Legal Entities

After the transaction has been notarized no later than within two days, the relevant documents must be submitted to the state registration authority. The applicant can personally take them to the registration authority or the MFC, or transfer them through his representative, who, when submitting documents, will have to present a notarized power of attorney, which is certified by a notary. A notary public can also transfer documents at the request of the applicant in electronic form. The registering authority in response sends a document confirming the fact of making an entry in the Unified State Register of Legal Entities. Thus, neither the transferor nor the party wishing to acquire a share should take any action at this stage to transfer the application to the registrar. government agency.

Alienation of a share or part thereof in the authorized capital of an LLC from a company member to his spouse

We know from family law that property acquired by spouses during marriage is joint property, unless a marriage contract has been concluded between them and a different regime for this property has been established.

According to Art. 34 of the UK, the common property of the spouses includes the income of each of the spouses from labor activity, entrepreneurial activity and the results of intellectual activity, pensions, benefits received by them, as well as other cash payments that do not have a special purpose (amounts of material assistance, amounts paid in compensation for damage in connection with disability due to injury or other damage to health, etc. ). The common property of the spouses is also movable and immovable things acquired at the expense of the joint income of the spouses, securities, shares, deposits, shares in the capital contributed to credit institutions or other commercial organizations, and any other property acquired by the spouses during the marriage, regardless of whether in the name of which of the spouses it was acquired or in the name of which or by which of the spouses cash(Art. 34 RF IC).

Thus, if a share of the authorized capital was acquired during the period when the person was married, then this share becomes the common joint property of the spouses, unless otherwise provided by the marriage contract. It should be noted that the share that was acquired free of charge, i.e. under a donation or inheritance agreement, is considered the property of one of the spouses, and is not the subject of division.

A member of the company becomes one of the spouses for whom the transaction was executed, i.e. the spouse to whom the transaction was executed (participant) acquires not only property rights, but also liability rights, the right to participate in the management of the company itself, and the second spouse acquires only property rights. This property regime can be regulated by means of a marriage contract. The marriage contract is drawn up in writing and certified by a notary. A marriage contract and a transaction for the alienation of a share or part of a share in the authorized capital of the company must be submitted to a notary, who, in turn, must make sure that all the conditions of the contract submitted by you comply. The terms of the marriage contract must not contradict the rules for the alienation of a share in favor of third parties. A spouse who is not a member of the company refers to third parties. Therefore, when alienating a share, it is necessary to comply with the requirements established by the 1998 Law on LLC and the Charter of the company.

When alienating or acquiring a share, you must obtain the notarized consent of your spouse. If the share was received as a gift or inherited, then the consent of the spouse is not required. Also, upon dissolution of a marriage, a transaction with shares in the authorized capital, made during marriage, aimed at alienating a share or part of a share in the authorized capital, requires the consent of the former spouse.

Alienation of a share or part of a share in the authorized capital of an LLC as a result of legal succession

Universal succession - the transfer of rights and obligations to inherited persons in an unchanged form, unless otherwise provided by law. The Civil Code of the Russian Federation distinguishes two forms of universal succession: the right of inheritance and succession as a result of the reorganization of a legal entity.

The process of transferring a share in the authorized capital of an LLC in the manner of universal succession is described in Law No. 14-FZ of February 8, 1998 “On Limited Liability Companies” and in the Civil Code of the Russian Federation. The transfer of a share or part of a share in the authorized capital of an LLC to heirs or legal successors of legal entities is possible, unless otherwise provided by the Charter of the organization. Thus, the procedure for the transfer of a share to the heirs or successors of legal entities can take place without restrictions or on condition that such a transfer is allowed with the consent of the other participants in the company.

Consider the case when such consent is not required. Here you simply receive a certificate of the right to inheritance or registration of succession in the reorganization of a legal entity. The reorganization of a legal entity means a merger, division, accession, separation, transformation.

To obtain a certificate of inheritance, you must contact a notary public with the following list of documents: your passport, death certificate, document confirming the degree of kinship or other ties with the deceased, certificate of residence of the deceased, copy of the charter, document establishing the rights of the deceased for a share in the authorized capital, a document confirming the payment of the share by the deceased in the authorized capital. After providing all of the above documents, the notary draws up and issues you a certificate of inheritance. next step a general meeting of all participants of the organization is convened, at which a decision is made on the entry of the heir or successor of the legal entity into the company. After that, an application is sent to the registering state body (EGRLE) to make the appropriate changes. In addition to the application, you must also send documents certified by a notary on inheritance or succession and a protocol from the general meeting of participants in the company in which you were accepted as heirs.

In the case when the charter of the company provides that such a transfer is allowed only with the consent of the participants in the LLC, and unanimously. The mechanism is similar, the same package of documents is collected, but it is necessary to obtain the written consent of all participants in the company. To do this, the heir must apply with a written appeal to all participants in the company. Within a month, they must consider this appeal and give an answer. From the moment of obtaining consent from all participants in the company, it is necessary to send the following documents to the Unified State Register of Legal Entities within three days: an application in the form P14001, certified documents on inheritance, a protocol from the general meeting of participants in the company, a statement of consent of all participants. If such consent is not received within the period established by law or the constituent documents of the company, the transfer of a share or part of a share is carried out the next day. In addition, the company compensates damages to successors. The cost of the payment is determined for the last accounting reporting period preceding the day of death of a member of the company, the day the reorganization or liquidation of the LLC is completed, the day the share or part of the share is acquired at public auction.

Trust management in relation to a share in the authorized capital of LLC

Trust management is not a representation, i.e. no one performs certain duties on your behalf by proxy. A trust relationship is when the trustee (the founder of the management) transfers his share in the management to the managing person, i.e. a service that the manager provides in the interests of the principal (management founder). Trust management is regulated by the provisions of Chapter 53 of the Civil Code of the Russian Federation.

AT Russian legislation in relation to a share in the authorized capital of an LLC, there are two such cases, when one party, the founder of management, transfers to the other party a trustee for certain period property in trust management. The first case is inheritance. If the inheritance contains property that requires not only protection, but also management (part 3 of article 1173 of the Civil Code of the Russian Federation). As long as the heir has not inherited a part of the share in the LLC and has not become a member of the company, the notary, as the founder of trust management, concludes an agreement on trust management of this property. The founders of trust management of hereditary property can only be a notary or an executor by will.

A share in the authorized capital of an LLC is a combination of property rights and non-property (corporate) rights. Thus, when transferring a share in the authorized capital of an LLC to trust management, he receives for a certain period not only property in trust management, i.e. the opportunity to exercise any rights of the owner of the property, but also endowed corporate rights. The agreement specifies the amount of the share transferred to trust management. The trust management agreement will be valid until the heir becomes a full member of the company, or if the company's charter provides that the heir can receive his share only with the consent of all participants in the LLC, and he receives a refusal.

The trustee has the same rights as a member of the company, therefore, he can have a real influence on all ongoing processes in the organization. He is granted the right to perform any actual and legal actions with the property transferred to him in trust management. However, such powers can be limited by a trust management agreement (Part 2, Clause 2, Article 1012 of the Civil Code of the Russian Federation).

The second case is the mandatory establishment of trust management in relation to a share in the authorized capital of an LLC, the procedure for preventing the settlement of conflicts of interest (Federal Law of December 25, 2008 No. 273 "On Combating Corruption"). The person who is involved entrepreneurial activity cannot simultaneously hold a state or municipal office. In accordance with Art. 10 of the Federal Law of December 25, 2008 No. 273 “On Combating Corruption”, a conflict of interest is a situation in which the personal interest (direct or indirect) of a person holding a position, the replacement of which provides for the obligation to take measures to prevent and resolve conflicts of interest, affects or may influence the proper, objective and impartial performance of his official (official) duties (exercise of powers). In other words, a conflict of interest is understood as a case when a civil servant acts contrary to the laws and interests of the state, pursuing his own interests. Although the Scottish economist, Adam Smith, added: "In pursuing his own interests, he (the entrepreneur) often serves the interests of society more effectively than when he consciously strives to do so."

Thus, a person who is going to enter the state or municipal service is obliged to stop his participation in the management commercial organization. Those. it is possible to own a share or part of a share in the authorized capital of an organization, but to participate, be a participant and have corporate rights - no. Therefore, if you want to retain your property rights, and not lose your share in the authorized capital, while holding a public position, so as not to violate the laws, you need to transfer the share to trust management. Accordingly, in such a situation, trust management in relation to a share or part of a share will allow combining commercial activity with public service. It is also worth noting that there are no exceptions to the Federal Law of December 25, 2008 No. 273 “On Combating Corruption”, all civil servants and municipal employees must transfer a share or part of a share to trust management.

When making changes to the Unified State Register of Legal Entities regarding the establishment of trust management in relation to a share in the authorized capital of a company, the applicant may be: a member of the organization, an executor of a will or a notary. For the first situation - when transferring your share in the authorized capital of an LLC to trust management. For the second situation - when entering information to the state registration authority about the person managing the share, which is in the order of inheritance.

The consequences of the alienation of a share or part of a share in the authorized capital of an LLC by a person who did not have the right to alienate it

What to do in a situation where the alienation of a share or part of it in the authorized capital of an LLC is carried out by a person who does not have the right to perform such actions and who will eventually retain the alienated share of the authorized capital of the company. The consequences of such illegal actions are regulated by the provisions in paragraph 17 of Art. 21 of the 1998 LLC Law.

In accordance with paragraph 17 of the first part of Art. 21 of the LLC Law 1998, a person who has lost a share or part of a share in the charter capital of an LLC, as a result of the alienation of a share or part of a share, by a person who did not have the right to alienate, may demand that he recognize the rights to the alienated share. At the same time, the bona fide buyer will be deprived of the rights to this share, tk. the share was acquired as a result of illegal actions of third parties or in another way beyond the will of the person who lost the share.

The 1998 LLC Law provides for cases where a share is recognized for the acquirer. In the case when the share or part of the share was acquired by him at a public auction - from the moment the relevant changes were made to the Unified State Register of Legal Entities. Also, if the court refused to satisfy the claim brought by the buyer to the person who lost the share or part of the share. An action may be filed within three years from the date when the person who lost the share became aware of the unlawful acts.

Consequences of the sale of a share or part of a share in the authorized capital of an LLC in violation of the preemptive right to purchase (PPP)

The mechanism for the alienation of a share or part of it in the authorized capital of a company is provided for by the provisions of Law No. 14-FZ of 08.02. 1998 about LLC. In accordance with this law, a participant in a company has the right to alienate his share or part of a share in the authorized capital of the company to one or more participants in this company, also to the company itself, or to third parties. When the transfer of a share is made in favor of the participants or the company, then the consent of the remaining members of the organization is not required, unless otherwise provided by the charter. As for the alienation or sale in favor of third parties, a ban on such alienation can often be introduced into the Charter of the organization in order to harmonize the will of its participants, to protect the interests of society and its members. But the pre-emptive right to acquire (PPP) a share or part of it has only the participants of the company.

Accordingly, if a participant decides to sell his share in violation of the pre-emptive right to purchase, or the alienation was made in favor of third parties without the consent of the other participants in the organization or company, as well as bypassing the charter prohibition on such alienation, he will face the consequences provided for by the provisions of paragraph 18 of Art. 21 of the 1998 LLC Law.

Let's consider the first case. A participant, participants or a company (if the charter of an LLC provides for a pre-emptive right for the company to acquire a share or part of a share) has the right, within three months from the moment they become aware of such an offense, to demand in court that the rights and obligations of the buyer be transferred to them. If the charter of the organization indicates in advance the price for the pre-emptive right to purchase a share, then the person to whom the rights and obligations of the buyer are transferred shall reimburse the costs to the party that previously acquired the share. The amount of expenses should not exceed the purchase price of a share or part of a share in the authorized capital of the organization specified in the charter. After the court makes a decision on the transfer of a share or part of a share to a participant, members of the company or the company itself, you can safely apply for the appropriate changes to the Federal Tax Service.

Second case. If the alienation of a share or part of a share in the authorized capital of an LLC was completely in favor of third parties without the consent of the rest of the participants in the organization or company, or if the charter provides for a ban on the sale to third parties, the participants in the company or the company also have the right to demand in court the transfer of the share to the company within three months from the moment they learned about the offences. The costs of the acquirer of the share will be borne by the person who alienated the share in violation of the specified procedure.

Sometimes, in practice, participants make several transactions to cover up a real transaction, i.e. fake deal to disguise the real one. In accordance with Art. 170 of the Civil Code of the Russian Federation, such transactions are considered invalid. For example, in order to circumvent the law on the pre-emptive right to acquire a share or part of a share in the authorized capital, a participant enters into a donation agreement in order to subsequently sell this share to a third party. If the court establishes a violation of the pre-emptive right to purchase a share, then such a donation agreement and a sale agreement will be recognized as a single sale and purchase agreement made in violation. The transaction will be declared invalid, and the participants in the company have the right to demand that the rights and obligations of the buyer be transferred to themselves.

Pledge of shares (parts of shares) in the authorized capital of LLC

Pledge is one of the ways to ensure the fulfillment of obligations. A member of an organization has the right to pledge his share or part of a share in the authorized capital of an LLC to another member of the company, or to third parties, provided that this procedure not prohibited by the charter of the organization. Also, the transfer of collateral in relation to third parties, as well as other actions with shares in favor of third parties, is permissible with the consent of the participants in the organization. At the general meeting of participants in an LLC, a decision must be made by a majority vote of all participants in the company, unless otherwise provided by the charter. For example, the need for a larger number of votes to make a decision on giving consent to pledge a share or part of a share in the authorized capital of an LLC. Moreover, the vote of a participant who pledges his share is not counted. If the company consists of one member of the founder, the transfer of a pledge of a share is feasible, even if the charter provides for a ban on the transfer of a share in favor of third parties, for this the participant must decide on consent to the pledge of a share in the authorized capital of the company.

So what do we get. If a member of the company pledges his share to another member of the company, an agreement is concluded between them, which is sealed with signatures. Such an agreement is subject to mandatory notarization, otherwise, the transaction will be considered invalid.

If a member of the company pledges his share to third parties. Provided that the charter of the company does not provide for a ban on the transfer of a share as a pledge to a third party, a meeting is convened at which a decision is made. As a result of a positive outcome, an appropriate agreement is signed, which is also subject to notarization.

The notary, before certifying the share pledge agreement, must check the authority of the person transferring his share, whether he has the right to perform such an action, and make sure that the share transferred as pledge has been fully paid, except for cases when, at the time of notarization of the pledge agreement, the share does not yet belong to the legislator (Article 22 of the 1998 Law on LLC). The notary must make sure that the transaction was completed without any violations. It is also worth considering that the notary must submit a document on the basis of which a share or part of a share in the authorized capital of an LLC was acquired. If the participant is married, the consent of the spouse is required to transfer the share as collateral.

In accordance with part 13.1 of Art. 21 of the Law on LLC 1998, the alienating party may provide the notary with one of the following documents, on the basis of which a share or part of a share in the authorized capital of the company was previously acquired:

• If the share or part of the share was acquired on the basis of a transaction, then this may be a contract.
• If the company was created by only one founder, then his decision to create an LLC.
• If there are several founders, it is necessary to provide an agreement on the establishment of an LLC.
• Certificate of the right to inheritance - if the share or part of the share was inherited.

If a judicial act establishes the right of an LLC participant to a share or part of a share - a court decision.

In the event of the acquisition of a share or part of a share when increasing the authorized capital of the company, the distribution of shares owned by the company among the participants in other cases, if the acquisition of a share or part of a share occurs directly on the basis of a decision of the general meeting of the company - minutes of the general meeting.

In accordance with paragraph 2 of Art. 22 of the 1998 Law on LLC, a pledge of a share or part of a share in the authorized capital of an LLC is subject to state registration, and arises from the moment of such state registration. The notary must, within two working days from the date of certification of the share pledge agreement, send an application to electronic format to the state registration authority. If a pledge of a share arises in the future, the notary sends an application to the Unified State Register of Legal Entities within three days from the date of fulfillment of all conditions and the occurrence of all the deadlines necessary for the occurrence of a pledge. In turn, the state registering body sends to the notary in electronic form a document confirming the fact of making the relevant changes, or a decision to refuse state registration.

An entry in the Unified State Register of Legal Entities on the encumbrance of a share or part of a share in the authorized capital of an LLC is extinguished on the basis of an application from the pledgee or on the basis of a court decision that has entered into force (Article 22 of the 1998 Law on LLC).

Transfer of a share or part of a share in the authorized capital of an LLC to a company

Cases where an LLC acquires a share or part of a share in the authorized capital of a company

In accordance with paragraph 1 of Art. 23 “Acquisition by a company of a share or part of a share in the authorized capital of an LLC” of the 1998 Law on LLC, a company is not entitled to acquire a share or part of a share in the authorized capital of an LLC, with the exception of some cases, which we will discuss in this material.

First case. The charter of an LLC provides for a prohibition on the alienation of a share or part of a share to third parties. A participant wishing to sell his share must first of all offer other participants in the company to purchase it (preemptive right to purchase a share or part of a share). If the participants refuse to purchase this share, then the company is obliged to purchase the share or part of the share in the authorized capital of the LLC belonging to the participant of the company.

Second case. According to the charter of an LLC, the alienation of a share or part of a share owned by a member of the company in favor of third parties is permissible only with the consent of the other members of the company. However, if such consent is not obtained, the company must acquire the share or part of the share belonging to the participant of the company.

Third case. Participants of the organization, at the general meeting of the company, it was decided to commit big deal or about increasing the authorized capital of the company, but one of the participants voted against, or did not take part in the voting at all. In this case, at the request of a member of the company who voted against the adoption of such a decision, the company is obliged to acquire a share or part of a share in the authorized capital of the LLC belonging to this participant. This requirement can be presented within 45 days from the moment the participant learned about the adoption of such a decision or if he took part in the vote, after which the decision was made, and within 45 days he can make such a demand. The requirement for the company to acquire a share or part of a share in the authorized capital of the company is subject to notarization.

For all three cases, after the corresponding obligation arises, the company within three months, unless the charter of the organization provides for a different period, is obliged to pay the company's member the actual value of his share or part of the share in the authorized capital of the company. The actual value of the share of the company's participants corresponds to the part of the value of the net assets of the LLC, proportional to the size of its share. The value of his share or part of a share in the authorized capital of the company is determined on the basis of accounting data for the last reporting period preceding the day the participant applies for the company to acquire his share or part of the share. The company may also issue in kind property of the same value, with the consent of the participant.

In accordance with paragraph 2 of article 23 “Acquisition by a company of a share or part of a share in the authorized capital of an LLC” of the 1998 Law on LLC, the exclusion from the charter of the company of these provisions is carried out by decision of the general meeting of the company’s participants, adopted by two-thirds of the votes of the total number of votes of the participants society.

Fourth case. In accordance with paragraph 6 of Article 93. "Transfer of a share in the authorized capital of a limited liability company to another person" of the Civil Code of the Russian Federation. The participants of the company do not agree to the transfer of a share or part of the share to the heirs of the deceased participant, or the legal successors of the organization that has been reorganized. Such a refusal entails the obligation of the company to pay the listed persons the actual value of the share or part of the share or to give them property in kind corresponding to such value.

Fifth case. In accordance with Art. 94 “Withdrawal of a member of a limited liability company from the company” of the Civil Code of the Russian Federation, the participant, upon leaving the company, sends a request to the company for the company to acquire its share. The share passes to the company from the day the company receives such a demand. The company is obliged to pay the actual value of the share or part of the share or to give them property in kind corresponding to such value.

Sixth case. In accordance with paragraph 9 of Article 21 of the 1998 Law on LLC, it is regulated that when a share or part of a share in the authorized capital of a company is sold at a public auction, the rights and obligations of participants in such a share are transferred with the consent of the company's participants. If such consent has not been obtained, the company acquires this share.

The situations in which the LLC is obliged to buy out the share or part of the share of a company member in the authorized capital of the LLC were listed above. However, the legislation regulates the case when a company can exercise the right to choose and, at its own discretion, decide to acquire or not a share or part of a share of a member of the company - this is in the case of collecting a share or part of a share in the authorized capital of an LLC. Very often, when the debtor does not have any property that could be foreclosed on, except for a share in the authorized capital of an LLC or insufficiently available property, at the expense of which a court decision could be enforced. Recovery on the share of a company participant is allowed only on the basis of a court decision if other property is insufficient to cover debts. In this situation, the company, at its own discretion, decides to pay the creditors the actual value of the share or part of the share in the authorized capital of the LLC.

Alienation to the company of a share or part of the share of an LLC participant in the authorized capital of the company upon withdrawal of the participant from the company

The mechanism for exiting a participant from an organization is regulated by Article 94 “Withdrawal of a participant in a limited liability company from a company” of the Civil Code of the Russian Federation, Article 23 “Involvement by a company of a share or part of a share in the authorized capital of an LLC”, Article 26 “Withdrawal of a participant in a company from an LLC” of the 1998 Law on LLC .

A member of an organization has the right to withdraw from the membership of the company by transferring his share to the company, if such a mechanism for exit is provided for by the charter of the organization. Withdrawal from the organization is not allowed if the company consists of one participant, as a result of which there will be no participant left, as well as the exit of the only participant from the organization. Until 2008, the mechanism for withdrawing a participant from the company could take place without any consent from the rest of the participants in the organization. In 2008, the 2008 Law No. 312-FZ amended Article 94 of the Civil Code of the Russian Federation, which now states that a company member has the right to withdraw from the company by alienating his share or part of the share in the authorized capital of an LLC to the company, if this is provided for by the charter of the LLC. Thus, if founding documents organizations were created before the entry into force of this Law and contained provisions on the withdrawal of a participant from the company, then they retain this right even after the entry into force of the new Law of 2008 No. 312-FZ. If such a provision was not fixed in the charter, from which it follows that its participants leave the company in accordance with the provisions of Art. 26 of the 1998 LLC Law will not be able to.

The withdrawal of a participant from the company is carried out on the basis of the submission by the participant of the company of an application in writing. His share passes to the company from the moment of filing an application for withdrawal from the organization. Those. the moment the company receives the application, its share goes to the company. The legislation does not provide for clear criteria and requirements for drawing up an application and methods for filing an application for withdrawal from an organization. Also, the participant can withdraw his application for withdrawal from the LLC. If the company refuses to satisfy his request, he has the right to challenge this decision in court.

The application of a member of the company to withdraw from the organization must be notarized. Documents for state registration of changes relating to the composition of the company's participants must be submitted to the state registration authority (FTS) within a month from the date the share or part of the share is transferred to the company. It is necessary to submit the following documents: an application in the form P14001; application of the participant on withdrawal from the LLC (notarized); if the documents are submitted by the representative of the applicant - a notarized power of attorney. Documents to the registration authority may be submitted directly by the applicant or by a person acting on behalf of the applicant on the basis of a power of attorney. Documents can be sent by mail or in electronic form, sealed with an electronic signature. The registration authority issues you a receipt with the date of acceptance of your application and a list of submitted documents. State registration is carried out no later than five working days.

In case of withdrawal of a member from the company in accordance with Article 26 of the 1998 Law on LLC, the company is obliged to pay, is obliged to pay to the member of the company the actual value of his share or part of the share in the authorized capital of the company. The value of his share or part of the share in the authorized capital of the company is determined on the basis of accounting data for the last reporting period preceding the day the participant of the company submits an application for withdrawal from the organization. The company may also issue in kind property of the same value, with the consent of the participant. In case of incomplete payment by him of a share or part of a share in the authorized capital of an LLC, the actual value of the paid part of the share is paid.

Exclusion of an LLC participant from the company

In accordance with Article 67 of the Civil Code of the Russian Federation, a participant economic partnership or companies have the right to demand in court the exclusion of another participant from the company or economic partnership, except for public joint-stock companies (PJSC) with payment of the actual value of his share or part of the share in the authorized capital of the LLC. The grounds for exclusion in court of a participant from the organization are as follows:

• The actions or omissions of the participant cause significant harm to society. For example, a member of the company is regularly absent without a good reason at the general meeting of the members of the company, which in turn can lead to disastrous consequences, failure to make certain decisions harms the company or makes its activities impossible and complicates the work process. He can also vote for an unprofitable deal or a deal that will bring only losses to the organization in the future.
• The participant commits actions that impede the activities of the organization and prevent the achievement of the goals for which it was created.
• Violates his obligations under the law or the charter of the company.

When considering cases on the exclusion of a participant from the organization, the court assesses the degree of violation by the participant of his obligations, and establishes the fact that the participant has committed specific actions or evaded their commission and the onset of negative consequences for society. If the court decides to expel a participant from the organization, his share passes to the company from the moment the court decision comes into force. The company is obliged to pay to the expelled participant the actual value of his share, which is determined on the basis of accounting data for the last reporting period preceding the day the court decision on the exclusion of the participant enters into force. The society may also issue in kind property of the same value, with the consent of the expelled member.

Is it possible to exclude a participant from organizations who have paid their share only partially. In accordance with Article 10 of the 1998 LLC Law, it is provided that the unpaid part of the share passes to the company. Also, a participant with a share of more than 50% of the authorized capital of the company may be excluded only if the charter prohibits the exit of participants from the LLC.

Publication date: 2016-11-25
Heading:

The members of an LLC are, ideally, not just people who have pooled their money, but a team of like-minded people who are able to make decisions that suit, if not everyone, then almost everyone. Therefore, the law is aimed at preserving the composition of participants, despite the desire of individual individuals who have broken away from the collective to sell their share to the first person they meet.

According to the general rule of paragraph 4 of Article 21 of the Federal Law "On Limited Liability Companies", the participants in the company enjoy the preemptive right to purchase a share or part of the share of a member of the company at the offer price to a third party in proportion to the size of their shares. The charter may provide for some variations of this rule. So, for example, the sale price to participants using the pre-emptive right can be fixed in the charter. In addition, it is allowed to grant the pre-emptive right to purchase to the company itself.

The preemptive right to purchase rule applies only when the share is alienated to a third party (a person who is not a member of this company).

Here we will consider the question of how this general rule is applied, because most often the participants do not use legal opportunities when approving the charter and do not add anything to the main document of the company.

It is important to understand that when using this very general rule about the pre-emptive right to a third party (potential buyer) should not get anything. The alienated share will be fully sold to participants who have expressed a desire to exercise the said right.

Option 1

Member A notifies of its intention to sell its share (30%) to a third party. There are two other participants B (10%) and C (60%). Participant C refuses to use the pre-emptive right, and B declares his desire to buy a share. In this case, B can and should buy all 30%.

Option 2

Same thing, but now both B and C are going to buy a stake. Under these conditions, the existing proportion of the shares owned by these participants, namely 1 to 6, will be taken into account. This means that B will buy out 4.3%, and C - 25.7%.

The charter may provide that the participant, using the pre-emptive right, expresses his intention to buy not the entire share that fell to him, but only a part. Given such a rule, in the latter case B could say that he would only buy 10%. Then the Remaining 15.7% would have been bought by a third party.

It remains to be added that similar rules on the pre-emptive right to purchase can also be enshrined in the charter of a non-public joint-stock company. In the Federal Law "On joint-stock companies» the regulation of these issues is dispositive and is fully under the jurisdiction of the legal entity itself.

Option: The maximum size of the participant's share is not limited. The ratio of participants' shares can be changed (cannot be changed).

4.2. Participants contribute ________% (not less than 50%) of their share in the authorized capital at the time of registration of the Company. The remaining _________% of the authorized capital is paid by participants within one year from the date of registration.

4.3. It is not allowed to release a member of the Company from the obligation to make a contribution to the authorized capital of the Company, including by offsetting claims against the Company.

4.4. The number of votes a participant has is directly proportional to his share. The shares owned by the Company are not taken into account when determining the results of voting at the General Meeting of the Company's Members, as well as when distributing the Company's profits and property in the event of its liquidation.

4.5. The relations of participants with the Company and among themselves, as well as other issues arising from the right of a participant to a share in the property of the Company, are regulated by law and this Charter.

4.6. The authorized capital of the Company may be increased at the expense of the Company's property and (or) at the expense of additional contributions from the Company's members and (or) at the expense of contributions from third parties accepted by the Company.

Option: The authorized capital of the Company may be increased only at the expense of the Company's property and (or) at the expense of additional contributions of the Company's members.

4.7.1. The increase in the authorized capital of the company at the expense of its property is carried out by decision of the general meeting of the company's participants, adopted by a majority of at least _______ (at least 2/3) votes of the total number of votes of the company's participants.

The decision to increase the company's charter capital at the expense of the company's property can only be made on the basis of the company's financial statements for the year preceding the year during which such a decision was made.

The amount by which the company's authorized capital is increased at the expense of the company's property must not exceed the difference between the value of the company's net assets and the amount of the company's authorized capital and reserve fund.

When the authorized capital of a company is increased in accordance with this article, the nominal value of the shares of all participants in the company increases proportionally without changing the size of their shares.

4.7.2. The general meeting of the company's participants, by a majority of at least ________ (at least 2/3) votes of the total number of votes of the company's participants, may decide to increase the authorized capital of the company by making additional contributions by the company's participants. Such a decision should determine the total cost of additional contributions, as well as establish a common ratio for all members of the Company between the value of the additional contribution of a member of the Company and the amount by which the nominal value of its share is increased. The specified ratio is established based on the fact that the nominal value of the share of a member of the Company may increase by an amount equal to or less than the value of his additional contribution.

The term for making additional contributions by members of the Company is ____ months.

4.7.3. The General Meeting of Members of the Company may decide to increase its authorized capital based on the application of the member of the Company (statements of the members of the Company) for making an additional contribution and (or) the application of a third party (statements of third parties) for his admission to the Company and making a contribution. Such a decision is made by the members of the Company unanimously.

The application of the participant (participants) of the Company and the application of the third party must indicate the amount and composition of the contribution, the procedure and term for its payment, as well as the amount of the share that the participant of the Company or a third party would like to have in the authorized capital of the Company. The application may also specify other conditions for making contributions and joining the Company.

The introduction of additional contributions by the Company's participants and contributions by third parties must be made no later than within six months from the date of adoption by the general meeting of the Company's participants of the decisions provided for in this paragraph.

4.8. An increase in the authorized capital of the Company is allowed only after its full payment.

4.9. The Company has the right, and in the cases provided for by the Federal Law, is obliged to reduce its authorized capital. The reduction of the authorized capital of the Company may be carried out by reducing the nominal value of the shares of all members of the Company in the authorized capital of the Company and (or) redemption of the shares owned by the Company.

4.10. The company is not entitled to reduce its authorized capital if, as a result of such a decrease, its size becomes less than the minimum amount of the authorized capital, determined in accordance with paragraph 1 of Art. 14 of the Federal Law "On Limited Liability Companies", as of the date of submission of documents for state registration.

4.11. Within 30 (thirty) days from the date of the decision to reduce its charter capital, the Company is obliged to notify in writing about the reduction in the charter capital of the Company and its new amount to all creditors of the Company known to it, as well as to publish in the press, which publishes data on state registration legal entities.

4.12. Reducing the authorized capital of the Company by reducing the nominal value of the shares of all members of the Company must be carried out while maintaining the size of the shares of all members of the Company.

5. ISSUE OF BONDS

5.1. The Company has the right to place bonds and other issue-grade securities in accordance with the procedure established by the legislation on securities.

Issue of bonds by the Company is allowed after full payment of its authorized capital.

5.2. The bond must have a par value. The nominal value of all bonds issued by the Company must not exceed the amount of the Company's authorized capital and (or) the amount of security provided to the Company for these purposes by third parties. In the absence of collateral provided by third parties, the issue of bonds is allowed not earlier than the third year of the Company's existence and subject to the proper approval of the annual financial statements for two completed financial years. These restrictions do not apply to mortgage-backed bond issues and in other cases established by federal securities laws.

6. RIGHTS AND OBLIGATIONS OF PARTICIPANTS

6.1. The participant is obliged:

6.1.1. Pay for shares in the authorized capital of the Company in the manner, in the amount and within the time limits provided for by the Federal Law and the agreement on the establishment of the Company. Part of the profit is accrued to the participant from the moment of actual payment of 100% of his share in the authorized capital.

6.1.2. Comply with the requirements of the Articles of Association, the terms of the agreement on the establishment of the Company, comply with the decisions of the Company's management bodies adopted within their competence.

6.1.3. Do not disclose confidential information about the activities of the Company.

6.1.4. report immediately to CEO about the inability to pay the declared share in the authorized capital of the Company.

6.1.5. Protect the property of the Society.

6.1.6. Fulfill the obligations assumed in relation to the Company and other participants.

6.1.7. Assist the Company in the implementation of its activities.

6.1.8. Fulfill other additional duties assigned to all members of the Company by decision of the General Meeting of Members of the Company, adopted unanimously. Also perform other additional duties assigned to a certain participant by a decision of the General Meeting of the Company's Participants, adopted by a majority of at least two-thirds of the votes of the total number of votes, provided that the Company's Participant, who is entrusted with such duties, voted for such a decision or gave a written agreement. Additional Responsibilities assigned to a certain member of the Company, in the event of the alienation of his share or part of the share, the acquirer of the share or part of the share is not transferred. Additional obligations may be terminated by a decision of the General Meeting of Members of the Company, adopted by all members of the Company unanimously.

6.1.9. Inform the Company in a timely manner about changes in information about his name or title, place of residence or location, as well as information about his shares in the authorized capital of the Company. If a member of the Company fails to provide information about a change in information about himself, the Company shall not be liable for the losses caused in connection with this.

6.2. The participant has the right:

6.2.1. Participate in the management of the Company's affairs, including by participating in the General Meetings of Participants, in person or through a representative.

6.2.2. Receive information about the activities of the Company and get acquainted with its accounting books and other documentation.

6.2.3. Participate in the distribution of profits.

6.2.4. Elect and be elected to the management and control bodies of the Company.

6.2.5. Get acquainted with the minutes of the General Meeting and make extracts from them.

6.2.6. To receive, in the event of liquidation of the Company, part of the property remaining after settlements with creditors, or its value.

6.2.7. Appeal to the relevant bodies of the Company actions officials Society.

6.2.8. To make proposals on the agenda, referred to the competence of the General Meeting of Participants.

6.2.9. Exit the Company by alienating a share to the Company with the consent of other members or the Company or regardless of the consent of its other members or the Company, paying him the actual value of his share or issuing him property in kind of the same value with the consent of this member of the Company.

Option: The item is not indicated if clause 8.1 of the Charter does not provide for the right of a participant to withdraw from the Company.

6.2.10. Enjoy the following additional rights:

____________________________________________;

____________________________________________.

Note: Additional rights may be provided for by the charter of the company upon its establishment or granted to the participant (participants) of the company by decision of the general meeting of participants of the company, adopted by all participants of the company unanimously.

6.2.11. Additional rights granted to a certain member of the company, in the event of the alienation of his share or part of the share, do not transfer to the acquirer of the share or part of the share.

6.2.12. Termination or restriction of additional rights granted to all participants in the company is carried out by decision of the general meeting of participants in the company, adopted by all participants in the company unanimously. Termination or restriction of additional rights granted to a certain member of the company is carried out by decision of the general meeting of participants in the company, adopted by a majority of at least two-thirds of the votes of the total number of votes of the participants in the company, provided that the member of the company who owns such additional rights voted for the adoption of such decision or gave written consent.

6.2.13. A member of the company who has been granted additional rights may refuse to exercise the additional rights belonging to him by sending a written notice to the company. From the moment the company receives the said notice, the additional rights of the company's participant cease.

6.3. The number of members of the Society should not exceed fifty.

6.4. Any agreements of the members of the Company aimed at restricting the rights of any other member, in comparison with the rights granted current legislation RF are negligible.

6.5. The transfer of a share or part of a share in the authorized capital of a company to one or more participants in this company or to third parties is carried out on the basis of a transaction, by way of succession or on another legal basis.

6.6. A member of the Company has the right to sell or otherwise alienate his share or part of the share in the authorized capital of the Company to one or more members of this Company. The consent of other participants of the company or company to make such a transaction is not required.

Option 1: At the same time, the consent of other members of the Company or the Company is required to complete such a transaction.

Option 2: The sale or otherwise alienation of the share or part of the share is prohibited.

6.7. Members of the Company enjoy the pre-emptive right to purchase a share

or part of the share of a member of the Company

(at the offer price to a third party or at a different price from the offer

to a third party and a price predetermined by the Charter of the Company)

in proportion to their shares.

6.8. The Company has a pre-emptive right to purchase a share or part of a share owned by a member of the Company at the offer price to a third party or at a price predetermined by the charter, if other members of the Company have not exercised their said pre-emptive right.

The Company's exercise of the pre-emptive right to purchase a share or part of a share at a price predetermined by the Charter is allowed only on condition that the purchase price by the Company of a share or part of a share is not lower than the price established for the Members of the Company. The specified right of the Company must be exercised on time ___________________________.

Note: The Articles of Association may not provide for the specified pre-emptive right to purchase by the Company a share or part of a share of a member of the Company.

Provisions establishing the pre-emptive right to purchase a share or part of a share in the authorized capital by the company's participants or the company at a price predetermined by the charter, including changing the amount of such a price or the procedure for determining it, may be provided for by the company's charter upon its establishment or when amending the company's charter by decision of the general meeting of participants of the company, adopted by all participants of the company unanimously. The exclusion from the charter of the company of the provisions establishing the pre-emptive right to purchase a share or part of a share in the authorized capital of the company at a price predetermined by the charter is carried out by a decision of the general meeting of participants in the company, adopted by two thirds of the votes of the total number of votes of the participants in the company.

6.9. The purchase price of a share or part of a share when using the pre-emptive right to purchase is set in a fixed amount of money and amounts to __________ (___________) rubles.

Option: Purchase price of a share or part of a share when using