ExclusionWithdrawal Flashcards
1
Q
- Who can be excluded from a company?
A
o Associates who fail to contribute, declare bankruptcy, or engage in fraudulent activities.
2
Q
- What is the process for excluding an associate?
A
o Requires a court decision initiated by the company or other associates.
3
Q
- What happens to an excluded associate’s benefits?
A
o They receive monetary compensation equivalent to their share value.
4
Q
- What liabilities remain for an excluded associate?
A
o Liable for operations until the exclusion decision is final.
5
Q
- When can an associate withdraw from a company?
A
o Based on constitutive act provisions, mutual agreement, or justified court approval
6
Q
- What is the effect of an associate’s withdrawal?
A
o The company may continue with remaining associates or dissolve.
7
Q
- What is the role of the constitutive act in withdrawals?
A
o Dictates the conditions under which withdrawal is permitted.
8
Q
- Can a single associate continue a company?
A
o Yes, if stipulated in the constitutive act or under specific conditions.
9
Q
- What legal grounds can justify withdrawal?
A
o Serious disputes or reasons hindering the company’s activity.
10
Q
- What is the timeframe to appeal a court decision on withdrawal?
A
o 15 days from the decision’s notification.
