RIGHTS OF SHAREHOLDERS IN THE REPUBLIC OF BULGARIA
The purpose of this paper is to provide a brief overview of issues related to the property, administrative and control rights of shareholders in the Republic of Bulgaria. First of all, the right to dividends is considered, since it is one of the most important property rights of the shareholder. The right to a liquidation share is ranked second among the property rights of the shareholder. Thirdly, the paper discusses such a property right as the right to receive interest on contributions made by the shareholder, and the cases in which such interest is payable. Further, the issue of a shareholder's right to subscribe to a part of new shares proportional to his/her share in the capital prior to its increase is discussed. In the second place, the administrative rights of the shareholder are considered, among which in the first place is the personal and irrevocable right to receive information, which does not depend on the number of shares owned by the shareholder. The next among the administrative rights is the right to participate in the general meeting of the joint stock company. The paper examines a case concerning specific regulations for the representation of shareholders at the general meeting of public companies. Third, it considers the control rights of the shareholder in relation to his/her right to protect membership, as well as the right to file a claim to cancel the decisions of the general meeting. Some special rights with a protective function which cannot be attributed to the general qualification of shareholders’ rights are also indicated.
share, dividend, property right, control right, liquidation share, interest rate, administrative right
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About the Author
Rosen Petkov Baltov – Doctor of Civil and Family Law, the Bulgarian Academy of Sciences, Sofia, the Republic of Bulgaria. E-mail: firstname.lastname@example.org
Baltov R.P. Rights of Shareholders in the Republic of Bulgaria // BENEFICIUM. 2021. Vol. 2(39). Pp. 76-82. (На англ.). DOI: 10.34680/BENEFICIUM.2021.2(39).76-82