Month: May 2022

EXECUTION ON THE ASSET “LIMITED LIABILITY COMPANY SHARE” AND CONSEQUENCES FOR THE COMPANY

I. The procedure in general
The corporate share represents a portion of ownership in the company, which corresponds to the title of ownership recognized to the shareholder subscribed in the capital. The fee represents the existence of an associative relationship, which includes patrimonial and non-patrimonial rights and duties (right to vote, right to participate in social affairs, etc.). The company shares can be transferred, by deed between vivos or mortis causa, and divided. In fact, the shares can also be enforced in favor of the owner's shareholder creditors. We focus on a case that recurs frequently, namely the execution on a share in LLC and the consequences for the company. According to art. 517, par. 1, of the Code of Civil Procedure, at the beginning of the implementation of the executive procedure, a title of execution is imposed on the share.