Minutes on approval of a related-party transaction
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Minutes on approval of a related-party transactionMinutes on approval of a related-party transactionMinutes on approval of a related-party transactionMinutes on approval of a related-party transactionMinutes on approval of a related-party transaction
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Minutes of an extraordinary general meeting of participants are required to formalize consent to a related-party transaction. According to the Federal Law “On Limited Liability Companies”, an interested party transaction is a transaction in which a member of the Board of Directors, the sole executive body, a member of the collegial executive body or a controlling person of the company is interested. 1. Interest shall be determined in the presence of at least one of the following circumstances: a) the person is a party to a transaction or a beneficiary; b) the person controls a legal entity that is a party to the transaction; c) the person holds positions in the management bodies of the legal entity that is a party to the transaction. 2. Purposes of approval of interested party transactions a) Prevention of conflict of interests - minimization of the risk of making decisions to the detriment of the interests of the company and its participants. b) Protection of participants' rights - ensuring transparency and fairness in concluding transactions. c) Control over the use of the company's property - prevention of withdrawal of assets from the company. d) Exclusion of abuses on the part of management bodies - reducing the risk of entering into transactions on terms unfavorable for the company. 3. Legal consequences of the absence of approval A related-party transaction made without proper approval may be recognized invalid at the suit of the company, a member of the board of directors or a shareholder of the company if it has caused damage to the interests of the company. At the same time, the absence of a protocol of approval is evidence of non-compliance with the approval procedure, which increases the risk of contesting the transaction. A decision to approve an interested party transaction of an LLC is formalized by drawing up minutes of the general meeting of participants (board of directors) of the company.
Properties
Legal FormLLC
JurisdictionRussia
Branch of LawCorporate, M&A
WordingComprehensive
RelevanceApplicable now
Original languageRussian
Translation languageNo
Set
Протокол общего собрания участников ООО об одобрении сделки с заинтересованностью_ru.docx
Categories
Keywords
сделка с заинтересованностью
interested-party transaction
related-party transaction
ID: 314.55024
Created: 14.03.2025
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Minutes of the general meeting of participants of an LLC on approval of a major transaction
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