
JOINT STOCK COMPANY
A type of company that is established for the purpose of operating a commercial business under a trade name, has a capital that is divided into shares and is responsible only for its assets for its debts.JOINT STOCK COMPANY
A type of company that is established for the purpose of operating a commercial business under a trade name, has a capital that is divided into shares and is responsible only for its assets for its debts. TCC.329
Shareholders are only responsible for the capital shares they have committed to and towards the company.(TTC.329/2)
A Joint Stock Company is established in two ways, sudden and gradual. Paying paid in full of the partnership capital of the founding partners at the beginning is called ”sudden establishment“, paying part of the partnership capital of the founding partners and applying to the public for the remaining part is called ”gradual establishment”.t Stock Company is established in two ways, sudden and gradual. Paying paid in full of the partnership capital of the founding partners at the beginning is called ”sudden establishment“A Joint Stock Company is established in two ways, sudden and gradual. Paying paid in full of the partnership capital of the founding partners at the beginning is called ”sudden establishment“, paying part of the partnership capital of the founding partners and applying to the public for the remaining part is called ”gradual establishment”.
* It has a wide field of activity with the ability to do all kinds of economic and commercial activities. However, this activity must be included in the company’s articles of association.
* It can be established between legal entities, as well as between real persons and legal entities.
* At least 5 natural or legal persons are required for the establishment of a Joint Stock Company.At least 5 natural or legal persons are required for the establishment of a Joint Stock Company.
* The capital, all of which is pledged in the articles of association, cannot be less than TL 50 thousand, and the initial capital cannot be less than TL 100 thousand in non-public joint stock companies that have accepted the registered capital system, which shows the ceiling of authority granted to the board of directors in raising capital.
* The capital of the Joint Stock Company is divided into shares whose value is equal to each other. Shares of a Joint Stock Company may be printed in the form of negotiable securities shares. It is possible to issue Joint Stock Company shares as registered or bearer shares.capital of the Joint Stock Company is divided into shares whose value is equal to each other. Shares of a Joint Stock Company may be printed in the form of negotiable securities shares. It iThe capital of the Joint Stock Company is divided into shares whose value is equal to each other. Shares of a Joint Stock Company may be printed in the form of negotiable securities shares. It is possible to issue Joint Stock Company shares as registered or bearer shares.
* In Joint Stock Companies, decisions are taken by majority vote unless a different voting ratio is foreseen. However, the Turkish Commercial Code also includes aggravated rates in some cases.
* The body that undertakes the duty of representing and binding the company in Joint Stock Companies is the Board of Directors. The Board of Directors consists of at least three members.
In the law, a joint stock company is defined as ”a company whose capital is certain and divided into shares, which is responsible only for its assets due to its debts”, it is stipulated that shareholders will be responsible only for the capital shares they have committed and against the company (YTTK art.n the law, a joint stock company is defined as ”a company whose capital is certain and divided into shares, which is responsible only for its assets due to its debts”, it is stipulated that shareholders will be responsible only for the capital shares they have committed and against the company (YTTK art. 329).
For the establishment of a joint stock company under the TCC, it is sufficient that one or more founders exist (New TCC Art.338).
Share transfer is easy in joint stock companies. It is transferred as a security. Shares received in return for capital contributed in kind (goods, equipment) during the establishment cannot be sold unless two years have passedShare transfer is easy in joint stock companies. It is transferred as a security. Shares received in return for capital contributed in kind (goods, equipment) during the establishment cannot be sold unless two years have passed.Since joint stock companies print ste transfer is easy in joint stock companies. It is transferred as a security. Shares received in return for capital contributed in kind (goods, equipment) during the establishment cannot be sold unless two years have passed.Since joint stock companies print stocks, if they sell their shares after 2 years after the acquisition, the company’s partners will not be taxed due to the increase in value
Joint stock companies are corporate tax payers. The addressee of the tax is the company.
The right to issue shares and bonds is granted only to joint stock companies.
Joint stock companies have a legal personality. It takes place with the registration of a legal entity in the trade registry.
The liability of the joint stock company against its debts is limited to its assets.ock companies have a legal personality. It takes place with the registration of a legal entity in the trade registry.
The liability of the joint stock company against its debts is limited to its assets.
A joint stock company’s capital can be divided into shares and represented by shint stock companies have a legal personality. It takes place with the registration of a legal entity in the trade registry.
The liability of the joint stock company against its debts is limited to its assets.
A joint stock company’s capital can be divided into shares and represented by shares. A bearer share certificate cannot be issued unless the entire company capital has been paid in.
Even a single person can be on the board of directors, and a person appointed from outside can also be elected to the board of directors.
In a joint stock company, the partners are responsible to the company for the amount of capital they have committed.
Transfers of shares of a joint stock company do not need to be made in the presence of a notary public.
Transfers of shares of a joint stock company do not need to be registered in the Trade Registry and published in the trade registry gazette.Transfers of shares of a joint stock company do not need to be made in the presence of a notary public.
Transfers of shares of a joint stock company do not need to be registered in the Trade Registry and published in the trade registry gazette.
Partners in the joint stock company wTransfers of shares of a joint stock company do not need to be made in the presence of a notary public.
Transfers of shares of a joint stock company do not need to be registered in the Trade Registry and published in the trade registry gazette.
Partners in the joint stock company will be able to easily transfer the suppressed stock to others by turning it over and giving the stock to that person.
Shareholders of joint stock companies who are not members of the board of directors do not have responsibility for public debts.
Anonymous companies can go public and issue bonds to raise loans.
The books that anonymous companies are required to keep are as follows:
– Journal
– General ledger
– Inventory and balance sheet book
– General assembly decision book
– Board of directors decision book
– Shareholders Journal
– General ledger
– Inventory and balance sheet book
– General assembly decision book
– Board of directors decision book
– Sha– Journal
– General ledger
– Inventory and balance sheet book
– General assembly decision book
– Board of directors decision book
– Shareholders book
– Share register
– Bond register
A) Legal Conditions and Procedures Required for the Validity of Share Transfer in Joint Stock Companies
ARTICLE 338 (1) The existence of one or more founders who are shareholders is a prerequisite for the establishment of a joint stock company. the provision of Article 330 is reserved.
(2) If the number of shareholders decreases to one, the situation shall be notified to the board of directors in writing within seven days from the date of the transaction that gave rise to this result. The board of directors shall have the company registered and declared to be a joint stock company with a single shareholder within seven days from the date of receipt of the notification.If the number of shareholders decreases to one, the situation shall be notified to the board of directors in writing within seven days from the date of the transaction that gave rise to this result. The board of directors shall have the company registered and declared to be a joint stock company with a single shareholder within seven days from the date of receipt of the notification. In addition, if the company is established as a sole shareholder and the shares are concentrated in a single person, the name, place of residence and citizenship of the sole shareholder are also registered and declared. Otherwise, the shareholder who does not make the notification and the board of directors who do not have the registration and declaration done are responsible for any damage that may arise.
(3) The company cannot acquire its own shares as a sole shareholder; it cannot have them acquired.
B) Transfer of bearer(3) The company cannot acquire its own shares as a sole shareholder; it cannot have them acquired.
B) Transfer of bearer shares
ARTICLE 489- (1) The transfer of share c3) The company cannot acquire its own shares as a sole shareholder; it cannot have them acquired.
B) Transfer of bearer shares
ARTICLE 489- (1) The transfer of share certificates written to the bearer shall constitute a provision for the company and third parties only by the transfer of possession.
C) The principle of transfer of registered shares and share certificates
ARTICLE 490- (1) Registered shares may be transferred without any restrictions unless otherwise stipulated in the law or the articles of association.
(2) Transfer by legal action can be made by transferring the possession of the endorsed bearer share certificate to the transferee.
D) Limitation of transfer
I –(2) Transfer by legal action can be made by transferring the possession of the endorsed bearer share certificate to the transferee.
D) Limitation of transfer
I – Legal limitation
ARTICLE 491- (1) Registered shares, the price of which has not been fully paid, can only be purchased with thransfer by legal action can be made by transferring the possession of the endorsed bearer share certificate to the transferee.
D) Limitation of transfer
I Legal limitation
ARTICL) Transfer by legal action can be made by transferring the possession of the endorsed bearer share certificate to the transferee.
D) Limitation of transfer
I – Legal limitation
ARTICLE 491- (1) Registered shares, the price of which has not been fully paid, can only be purchased with the approval of the company; it turns out that the transfer, inheritance, the sharing of the inheritance, the provisions of the property regime between spouses or forced execution Decrees.
(2) The company may only refuse to approve if the acquirer’s payment capacity is doubtful and the security required by the company has not been provided.
II – Limitation by the articles of association
Principles
ARTICLE 492- (1) The articles of association may provide that registered shares may be transferred only with the approval of the company.
(2) This limitation shall also apply when establishing the usufruct right.ICLE 492- (1) The articles of association may provide that registered shares may be transferred only with the approval of the company.
(2) This limitation shall also apply when establishing the usufruct right.
(3) If the company has entered liquidation, the restrictions on transferability shall be dropped.
In joint stock companies, the transfer agreement for the transfer of bare shares does not have to be issued by a notary or notarized, and there is no need for the approval of other shareholders in order for the transfer to be recorded in the share ledger. In fact, it is not mandatory for the transfer of shares to be registered in the trade registry.n joint stock companies, the transfer agreement for the transfer of bare shares does not have to be issued by a notary or notarized, and there is no neHowever, if there is a special regulation in the articles of association of the joint stock company regarding the transfer of shares and shares, for example, if it is said that the decision of the board of directors is sought in the transfer of shares, it is subject to the fact that in order for the transfer of shares to be valid, it will be necessary to act in accordance with the provisions of the articles of association.
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