Open Joint Stock Company (OJSC) - the form of a public company organization, whose shareholders have the right to alienate their shares. In this article, you will find out what JSC, as well as the legal aspects of the organization.
1
The legal principles of the organization of JSC provide for an unlimited number of shareholders, free appeal of shares in the market, the lack of the need to make funds to the authorized capital until the official state registration of the enterprise.
2
The highest governing body of JSC is the Board of Directors. It solves key issues for the enterprise, such as the election of the Board of Directors, the Audit Commission and Auditors, the approval of annual reports, the distribution of profits, the payment of dividends. The Board of Directors is considering all the organizational issues of the enterprise, except for those in the zone of competence of the shareholders. The Audit Commission monitors the financial and economic activities of the enterprise. At the same time, members of the Audit Commission cannot be members of the Board of Directors, as well as persons who are part of the management bodies cannot vote in the election of the Audit Commission. The current activities of the enterprise leads the Director-General or the collegial executive body of the Company.
3
OJSC is responsible to all its property, but has no relation to the personal obligations of its shareholders. If the bankruptcy of the Company is caused by the inaction of some shareholders who had the opportunity to influence the work of society, such shareholders are subsidiary responsibility for the obligations of the Company.
4
Owners of ordinary shares of OJSC are entitled to participate in the general meeting of shareholders with the right to vote on all issues in which these persons are competent, the right to receive dividends, as well as the right to receive a part of the property of JSC in the event of liquidation.
5
Owners privileged Shares have the right to receive dividends, the right to receive a part of the property of the OJSC in the event of liquidation and conversion of preferred shares into ordinary or in privileged other type, but only if this is provided for by the Charter of JSC. In addition, owners of such shares participate in the general meeting of shareholders with the right to vote on the reorganization or liquidation of the enterprise.
6
All shareholders have access to the Company's documentation, but to accounting documents and only shareholders who have at least 25% of the voting shares in society have access to the minutes of meetings of the collegial executive body. Also, all shareholders have the right to sell their shares, while other shareholders have an advantage in their acquisition before other buyers. The organization itself has the right to redeem its shares, if it is provided for by the Charter.
The acquisition of shares of successfully developing companies can be a reliable investment of funds and ensure the receipt of dividends in the future.
0
1731
