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  • Additional Liability Company
    Additional Liability Company is a company established by one or several persons with the
    authorized capital divided into shares the amount of which is stated by the constitutional
    documents. The members of such a company bear subsidiary liability under its commitments
    with their properties in the same amount in accordance with the cost of their deposits which is
    stated by the constitutional documents of the company.
    The peculiarity of such a company is that when one of the members turns bankrupt, his/her
    liability under commitments is shared between the other members proportionally to their
    deposits, if other procedure of sharing the liability is not provided by the constitutional
    documents.
    The same regulations of corporate legislation as the ones of Limited Liability Companies are
    applied to Additional Liability Companies as they are inconsistent with the special norms of the
    Civil Code of the Russian Federation about Additional Liability Companies.
    A Company must have both full and abbreviated company name in the Russian language. A
    Company has the right to have a full and (or) abbreviated company name in the languages of the
    peoples of the Russian Federation and (or) in foreign languages. Full company name in Russian
    must contain the full name of the company and the words “additional liability”. Abbreviated
    company name in Russian should contain full or abbreviated company name and the words
    “additional liability” or the abbreviation “ALC”.
    An Additional Liability Company can be the founder (member) of other business partnerships
    and companies except as required by the legislation of the Russian Federation.
    The deposit to the Additional Liability Company’s property can be money, security papers, other
    properties and property rights or other monetizable rights. The estimated money value of a
    deposit of an Additional Liability Company’s member is made under the agreement between
    founders (members) of the company and in cases as provided for by the law is subject to
    independent expert inspection.
    An Additional Liability Company has no right to issue shares.
    An Additional Liability Company can transform into business partnerships and companies of
    other type or into production cooperatives on the resolution of the General Meeting of Members
    under the current statutory procedure in the Russian Federation.
    The constitutional documents of such company are the Articles of Incorporation and the
    Agreement of Incorporation.
    An Additional Liability Company has the right:
     To possess separate property which is included in the independent balance sheet of the
    company;
     To buy and to exercise property and personal non-property rights on behalf of the
    company, to incur obligations, to act as plaintiff and defendant in the court;
     To have civil rights and to incur civil obligations necessary for conducting activities of
    all types not restricted by the Federal Laws if it is without prejudice to the object and
    aims of activity limited by the Articles of Incorporation; To run definite types of activities the list of which is defined by the Federal Law only on
    the ground of special permit (license);
     To act without time limit except as otherwise provided by the Articles of Incorporation;
     To set up bank accounts on the territory of the Russian Federation and abroad in
    accordance with the established procedure;
     To have stamps and form sheets with the company name, own emblem as well as trade
    mark and other means of individualization registered in accordance with the established
    procedure;
     To have other powers in accordance with the laws of the Russian Federation and
    constitutional documents of the company.
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