Rights and obligations of the shareholders at limited liability company in Slovakia

The basic rights of the shareholders in a limited liability company in Slovakia are the property rights:

– right for profit on the share,

– right for  settlement share,

– right for the share of the liquidation process.

 

The way of profit distribution can be specified in the memorandum of association of the limited liability company.

 

The other group of rights are non -pecuniary rights such as:

– rights to participate at management of the company, control of the company realized mainly at the general meeting of the company by the shareholders,

– right to ask for information about the matters of the company, check the documents of the company.

 

The basic obligation of the shareholder is to pay up its share to basic capital of the limited liability company.

The obligatory bodies of the limited liability in Slovakia are the general meeting and the executives.

The general meeting is the highest body of the limited liability company. At the general meeting the shareholders execute their rights regarding the management of the company and its control.

General meeting decides on all the matters of the company, it elects and revokes members of other bodies of the limited liability company. It decides also on distribution of share or on liquidation of the company.

General meeting consists of all the shareholders of the limited liability company. At the Meeting they can participate in person or they can be represented by a third person on the basis of power of attorney.

If the company has only one shareholder then all the activities and decisions are realized by the sole shareholder.

General meeting of the limited liability company is regularly arranged by the executives of the company at least once a year.

It is not obligatory to have a Supervisory Board in a limited liability company in Slovakia.