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

Company’s legal form change

Company may change its legal form under the conditions and procedure which have been prescribed by the provisions of Articles 478 to 482 of the Companies Act.

Concept of a Legal Form Change

By changing the legal form, a company converses from one legal form into another legal form, in accordance with Companies Act.

The change of the company’s legal form does not affect the legal personality of that company.

The provisions of the Companies Act governing establishment of a form of a company apply mutatis mutandis to the change of a legal form of the relevant company, unless this Act stipulates otherwise. Continue reading Company’s legal form change

Terms of Performance of the Activity of the Car Rental Services (a Rent a Car)

Primarily performance of the activities of car rental services (a rent a car) is regulated by the Law on Tourism. These activities are considered as activities which travel agencies perform and a company or entrepreneur which perform these tasks has the status of a tourist agency.

They must meet the general requirements which are provided for performing activity of travel agencies, as well as special conditions which are provided for performing the activity of car rental services (a rent a car).

According to the type of tasks the travel agency may be:

  1. The tourist agency organizer of the tourist trips (tour operator)
  2. The travel agency intermediary in the sale of the tourist trips (intermediary)

Since the Law on Tourism differ only two types of travel agencies, car rental services (a rent a car) shall be considered as a activity of tourist agency intermediary.

All provisions of the law that apply to the travel agencies intermediaries shall be applied to the car rental services (a rent a car). Continue reading Terms of Performance of the Activity of the Car Rental Services (a Rent a Car)