MAIN EQUITY OF THE TRADE COMPANIES -LEGISLATION AND PRACTICE-

Abstract

Depending on the form of the company, the main capital may be defined differently, although all the definitions are reduced to the fact that it consists of the stakes of the members of the company. In the limited liability company it is represented through the sum of the partners' stakes. The partner with the investment of his property in the company loses the connection with his assets invested in the company. On the basis of the entered deposit (monetary or non-monetary), the acquirer rights and claims against the company in the amount and percentage, as much as its stake in relation to the company's main capital. Having in mind the importance of the main capital for the operation of the company, the legislator foresaw that if the same according to the annual account falls below the legally prescribed minimum it should be complemented to the required level. All persons who have a legal interest in this have the right to claim such a complement. Just like the limited liability company and the joint stock company, the main capital may consist of cash and non-monetary assets. It is divided into shares through which shareholders prove their participation in the total amount of the principal. In the scientific and professional literature, the company's principal can be found under several terms, such as: core capital, start-up capital, fixed capital, Although the terms are different, the meaning and functions remain the same. These are the legal provisions. But the issue regarding the main capital gets important in the practical application of the legislation. Namely, the legislator is very explicit when it determines the minimum amount of the main capital and the obligation to maintain it at that level. How to do it is also legally regulated. These provisions considered many participants in the business world as an obligation for one another in their account, or in the property continuously in the name of the main equity amount determined for that form of the company. But is that so? Certainly not. After all, the most logical situation arises when opening a bankruptcy procedure to a company. Namely, the legislator established obligatory existence of a minimum main capital, and the court in bankruptcy procedure concluded that there are no property that would justify the conduct of the procedure (although there is a main capital on the annual account).