17. Constituent documents of a legal entity

Depending on the type of legal entity, its legal status may be characterized by various constituent documents. Constituent documents of a legal entity are an analogue of civil identity documents.

There are several types of founding documents:

1) articles of association;

2) memorandum of association;

3) general provisions on the organization. A legal entity acts on the basis of a charter, or a constituent agreement and a charter, or only a constituent agreement.

Based on what specific documents a legal entity operates, it is determined in the relevant legislative act.

In cases stipulated by law, a legal entity that is not a commercial organization may act on the basis of the general regulation on organizations of this type. The main difference between commercial and non-profit organizations is that the requirements for their form of constituent documents are more stringent than those provided for non-profit organizations.

The foundation agreement of a legal entity is concluded, and the charter is approved by its founders (participants).

A legal entity created by one founder acts on the basis of the charter approved by this founder.

The constituent documents of a legal entity must define:

1) the name of the legal entity;

2) its location;

3) the procedure for managing the activities of a legal entity;

4) other information provided by law for legal entities of the relevant type.

The constituent documents of non-commercial organizations and unitary enterprises, and in cases provided for by law also of other commercial organizations, must define the subject and goals of the activity of a legal entity. The subject and certain goals of the activities of a commercial organization may be provided for by the constituent documents and in cases where this is not mandatory by law.

As for the content of the founding agreement, the founders undertake to create a legal entity, determine the procedure for joint activities to create it, the conditions for transferring their property to it and participating in its activities. The agreement also defines the conditions and procedure for the distribution of profits and losses among the participants, management of the activities of a legal entity, withdrawal of founders (participants) from its composition.

Changes to constituent documents become effective for third parties from the moment of their state registration, and in cases established by law, from the moment the state registration body is notified of such changes. However, legal entities and their founders (participants) are not entitled to refer to the absence of registration of such changes in relations with third parties acting subject to these changes.

Author: Sazykin A.V.

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