Article 48. The concept of a legal entity.

1. A legal entity is an organization that owns separate property and is in charge of its obligations with this property, can acquire and exercise property and personal non-property rights on its own behalf, bear obligations, be a plaintiff and a defendant in court.
Legal entities must have an independent balance sheet or estimate.
2. In connection with participation in the formation of the property of a legal entity, its founders (participants) may have binding rights in relation to this legal entity or property rights to its property.
Legal entities for which their members have rights of obligation include business partnerships and companies, production and consumer cooperatives.
The legal entities whose property their founders have the right of ownership or other real right include state and municipal unitary enterprises, as well as institutions financed by the owner.
3. Legal entities for which their founders (participants) do not have property rights include public and religious organizations (associations), charitable and other funds, associations of legal entities (associations and unions).

<< Article 47 TKRF Back to table of contents Article 49 of the TKRF >>

Links to other articles of chapter 4. Legal entities:
Article 49. Legal capacity of a legal entity.
Article 50. Commercial and non-profit organizations.
Article 51. State registration of legal entities.
Article 52. Constituent documents of a legal entity.
Article 53. Bodies of a legal entity.
Article 54. Name and location of the legal entity.
Article 55. Representative offices and branches.
Article 56. Responsibility of a legal entity.
Article 57. Reorganization of a legal entity.
Article 58. Succession in the reorganization of legal entities.
Article 59. Transfer deed and separation balance sheet.
Article 60. Guarantees of the rights of creditors of a legal entity during its reorganization.
Article 61. Liquidation of a legal entity.
Article 62. Duties of the person who made the decision to liquidate the legal entity.
Article 63. Procedure for liquidation of a legal entity.
Article 64. Satisfaction of creditors' claims.
Article 65. Insolvency (bankruptcy) of a legal entity.
Article 66. Basic provisions on business partnerships and companies.
Article 67. Rights and obligations of participants in an economic partnership or company.
Article 68. Transformation of business partnerships and companies.
Article 69. Basic provisions on a full partnership.
Article 70. Constituent agreement of a full partnership.
Article 71. Management in full partnership.
Article 72. Conducting affairs of a full partnership.
Article 73. Obligations of a participant in a full partnership.
Article 74. Distribution of profits and losses of a full partnership.
Article 75. Responsibility of participants of a full partnership for its obligations.

Article 101. Reduction of the authorized capital of a joint-stock company.
Article 102. Restrictions on the issue of securities and the payment of dividends of a joint-stock company.
Article 103. Management in a joint-stock company.
Article 104. Reorganization and liquidation of a joint-stock company.
Article 105. Affiliated economic society.
Article 106. Dependent economic company.
Article 107. The concept of a production cooperative.
Article 108. Formation of production cooperatives.
Article 109. Property of a production cooperative.
Article 110. Management in a production cooperative.
Article 111. Termination of membership in a production cooperative and transfer of a share.
Article 112. Reorganization and liquidation of production cooperatives.
Article 113. Unitary enterprise.
Article 114. Unitary enterprise based on the right of economic management.
Article 115. Unitary enterprise based on the right of operational management.
Article 116. Consumer cooperative.
Article 117. Public and religious organizations (associations).
Article 118. Funds.
Article 119. Amendment of the charter and liquidation of the fund.
Article 120. Institutions.
Article 121. Associations of legal entities (associations and unions).
Article 122. Constituent documents of associations and unions.
Article 123. Rights and obligations of members of associations and unions.
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