【作者】 张翔；

【导师】 吴建斌；

【作者基本信息】 南京大学 ， 法律硕士（专业学位）， 2015， 硕士

【摘要】 现行《公司法》在有限责任公司股权转让方面规定公司章程可以另行做出规定,体现了章程自治原则。实践中某些公司的章程甚至规定了在某些条件成就时强制股东转让股权的条款。有限责任公司强制股权转让的规定或基于尊重公司章程自治的要求,或基于维系有限责任公司人合性及经营管理需求,或基于资源的优化配置的考虑,具有一定理论基础。由于公司章程“契约论”具有无法弥补的先天缺陷,本文从公司章程“共同行为论”出发,认为公司章程强制离职股东转让股权的条款只要不违反强行法的规定,效力具有整体性,对每位股东具有相同的约束力。但是为了保护股东的权益,对公司章程强制股东股权转让的条款应当给予必要的限制。首先,股权转让自由并非完全选择自由,亦不能完全丧失选择的自由,强制股权转让可以作为股东最后的一个选择,若在章程规定期限内能与内部股东达成协议,则不应启动强制收购条款;其次,关于强制股权转让价格的规定,对于章程投赞同票的股东据根据诚实信用原则及禁反言原则,理所应当具有约束力。但是对于修改章程中投反对票的股东,既然公司要强制收回异议股东的股权,就应当以公平合理的价格购买,否则就应当赋予异议股东股份回购请求权;再次,公司修改章程加重股权转让限制(包括强制股权转让)不必要求全体股东一致同意,只需在法定多数通过前提下征得相关股东(即受该变更影响的股东)的同意即可。只有当公司面临重大事由,为了整体利益需要做出上述变更的,才可不必征得相关股东同意。相关异议股东可以请求公司以合理价格收购其股权;最后,应当赋予离职股东必要的催告期,一般为30天,30天的时间足够股东将其股权转让给公司或公司其他股东,此时股东资格消灭的时间应当在股东股份凭证转移或收回之时。如果股东故意拖延,催告期满后,股东股权即告终止,股东资格即告消灭,由处分行为转为负担行为,股东与公司就该股东股份形成一种债权债务关系。离职股东违反章程规定转让所持股份,若股权转让行为发生在催告期内或公司章程未规定股东资格何时丧失,此时法院可以根据股东违反法定责任即遵守章程的义务,撤销股权转让合同;若股权转让行为发生在催告期过后,法院可以直接认定出让人不具有股东资格从而其转让行为为无权处分行为,因得不到公司的追认而无效。在公司外部,若股权转让合同符合善意取得的条件,即转让方系无权处分、受让方系善意、受让方支付了合理对价、股权已办理了变更登记,第三人便可取得该股权。更多还原

【Abstract】 The current "Corporation Law" stipulates that the articles of Limited Liability Company(LLC)can make separate stipulations in terms of the transfer of shares,which reflects the autonomy of company charter.In practices,some company charters even stipulate some clauses of compulsory equity transfer in some cases.The terms of compulsory equity transfer based on respecting the company autonomy,or based on the demand of maintaining human joining of LLC and management,or based on consideration of the optimal allocation of resources,which have their certain theoretical basis.Because of the irreparable defects of "Contractual Theory "of articles of association,this paper based on "Common Behavior Theory" of articles of Association,consider that the clauses of forcing departed shareholders transfer their shares in the articles of association have the same force to each shareholder as long as they don’t violate the mandatory law.However,the clauses of compulsory equity transfer should be given some necessary limitation to protect the interests of shareholders.Firstly,the choosing of equity transfer is not completely free,but it also can’t completely lost the freedom of choosing.Compulsory share transfer may treat as a last choice to shareholders.If they can reach an agreement with the internal shareholder before the deadline,the compulsory purchase clause should not be started;Secondly,the stipulation of the price of compulsory equity transfer have effect to the shareholders who vote for the articles of Association according to the principle of honesty and credibility and the principle of estoppel.But for the shareholders who vote against the modified articles of association,LLC should pay a fair and reasonable price or give their the appraisal right of dissenters;Thirdly,the aggravating restrictions on the share transfer(including compulsory equity transfer)of modified articles of Association do not require the consent of all shareholders,it just need the relevant shareholders’(who affected by the modification)agreement.The company don’t need the consent of the relevant shareholders only when faced the major reasons,for the good of the whole and have to make the change.The relevant dissenters can request the company to purchase its equity with a reasonable price.Lastly,the departed shareholders must be given some necessary period of exhortation.The period generally is 30 days,30 days is enough for the shareholder to transfer shares to the company or other shareholders.At this point the shareholders’ qualification eliminating time should be at the time when the shareholders share certificate be transferred or withdraw.If the shareholders delay to transfer shares deliberately,the shareholder qualification shall be eliminated after the expiration of the period of exhortation.And a debtor creditor relationship will be formed between the relevant shareholder and company.If the departed shareholder transfers his shares despite the articles of Association,the court can revoke the contract of equity transferring according to the shareholder’s violation of legal liability——the obligation to abide by the articles of Association when the conduct of transferring of equity appears in the period of exhortation or the company charter hasn’t stipulate the date of termination of the shareholder qualification;The court can affirm the transferor does not have the shareholder qualification,his transferring conduct is Unauthorized Conduct and ineffective without the company’s ratification when the conduct of transferring of equity appears after the period of exhortation.The transferee can obtain the ownership if the equity transfer contract is in accordance with the conditions of Bona Fide Acquisition.The conditions of Bona Fide Acquisition include that the transferor is not entitled to dispose,the transferee is in good faith,the transferee shall pay a reasonable consideration,the shares already have the registration of alteration.更多还原