Exit of limited liability company member

Exit of limited liability company member (hereinafter referred to as: exit of company member) is one of the reasons for termination of company member status. Procedure of exit of company member shall be governed by the provisions of Articles from 187 to 193 of the Law on Business Companies.

Reasons for termination of company member status are:

  • Death, in case of a natural person, or deletion from a relevant register, in case of a legal entity
  • Exit from a company
  • Expulsion from a company
  • Transfer of entire equity interest
  • Withdrawal and cancellation of entire equity interest.

Exit of Company Member without Claiming Compensation for Equity Interest

A comapany member, which hasn’t outstanding liabilities towards the company on the basis of outstanding contributions, may at any time, on the basis of the statement on exit which sall be submitted to the company, to exit from the compnay without giving any reasons for the exit, if he/she does not demand compensation for its equity interest. Continue reading Exit of limited liability company member

Cession of claims by contract

Cession of claims by contract is governed by the provisions of Articles 436 to 445 of the Law on Obligations and resulting in a substitution of creditor in obligations.

Subject of Contract

A creditor may carry out the cession of his claim by a contract entered into with a third person, except a claim whose transfer is not permitted by statute, or which is restricted to creditor’s
person, or whose very nature is incompatible with transferring to another.

Cession of claim by contract respectively a contract of cession shall have no effect for a debtor if he and the creditor have stipulated that the latter shall not be able to assign the claim to another, or that he shall not assign it without the debtor’s consent. Continue reading Cession of claims by contract

Enforcement of claims from client’s accounts

Enforcement of claims from client’s accounts (Enforced collection) shall be realized in accordance with the provisions of articles 47. to 49. of Law on Payment Transactions (FRY Official Gazette, Nos 3/2002 and 5/2003, RS Official Gazette, Nos 43/2004, 62/2006, 111/2009, 31/2011 and 139/2014). The execution titles, the order of fulfilment of the execution titles and the procedure of realization of the enforced collection are regulated by those legal provisions.

Enforced collection – titles and the order of fulfilment of titles

Enforcement of claims from client’s accounts shall be made against all of the client’s accounts with banks in which the client holds funds, and shall be made on the basis of:

  • enforceable decisions issued by tax, customs and other competent bodies – according to the time of receipt
  • enforceable court decisions, other execution titles, legal authorisations – according to the time of receipt
  • creditors’ orders in respect of matured securities, bills of exchange or mandates given by the debtor to its bank and its creditor – according to the time of receipt Continue reading Enforcement of claims from client’s accounts