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