Actio pro socio definition

Actio pro socio means the right of each shareholder to demand a fulfilment of obligations towards the company from their fellow partn- ers and - if necessary - to pursue their claims through a judicial process. This minority right enables the sole shareholder to assertion of internal prerogatives whenever he cannot assert the claim independently due to insufficient management or authorization rights. The “actio pro socio”, therefore, is only applicable to so-called “social entitlements”, meaning company claims against each shareholder, with indirect or direct basis within the partnership agreement. The most relevant examples for such claims are all rights to payment of amounts due or compensation for damages due to the violation of contractual obligations or of management duties. Conversely, an “ac- tio pro socio” can generally not be applied to assertion of claims against third parties, as in such cases, legal and contractual manage- ment and representation authorization take precedence over the interest in legal enforcement of company claims. In exceptional cases, however, an “actio pro socio” is applicable to claims against third-parties. Such an exception is on hand, if the shareholder has a special interest in taking direct measures against the third-party.

Examples of Actio pro socio in a sentence

  • Uz dotadašnju odgovornost za dolus i culpa lata, odgovornost ortaka je proširena na culpa levis in concreto.64 Pritom se nije uzimao u obzir najstroži standard već ona marljivost i briga u pothvatima koju bi ortak primijenio da se radi o njegovom privatnom, vlastitom pothvatu.65 7.2. Actio pro socio Dolozno, odnosno prijevarno postupanje značilo je direktno kršenje načela bona fides kao načela savjesnosti i poštenja, tj.

  • Actio pro socio można było wnosić manente societate, co Justynian rozszerzył i na zwy- czajne spółki: nonnumquam necessarium est et manente societate agi pro socio (D.

Related to Actio pro socio

  • Public Procurement Regulatory Authority (PPRA) means the Government Agency responsible for oversight of public procurement.

  • Environmental and Social Commitment Plan or “ESCP” means the environmental and social commitment plan for the Project, dated May 14, 2020, as the same may be amended from time to time in accordance with the provisions thereof, which sets out the material measures and actions that the Borrower shall carry out or cause to be carried out to address the potential environmental and social risks and impacts of the Project, including the timeframes of the actions and measures, institutional, staffing, training, monitoring and reporting arrangements, and any environmental and social instruments to be prepared thereunder.

  • Environmental and Social Management Plan or “ESMP” means a site-specific environmental and social management plan to be prepared in accordance with the parameters laid down in the ESMF and acceptable to the Association, setting forth a set of mitigation, monitoring, and institutional measures to be taken during the implementation and operation of the Project activities to eliminate adverse environmental and social impacts, offset them, or reduce them to acceptable levels, and including the actions needed to implement these measures.

  • Environmental and Social Management Framework or “ESMF” means an instrument satisfactory to the Association, prepared and adopted by the Recipient and dated February 5, 2010 outlining the process for management of the environmental and social aspects of the Project as the same may be amended from time to time with the Association’s prior written concurrence.

  • competent authorities means the competent authorities of the Member States as identified on the websites listed in Annex II;

  • Subsequent Disclosure Documents means any financial statements, management’s discussion and analysis, information circulars, annual information forms, material change reports (other than confidential material change reports), business acquisition reports or other documents issued by the Corporation after the Execution Time which are, or are deemed to be, pursuant to applicable Securities Laws, incorporated by reference into the Final Prospectuses or any Prospectus Amendment;

  • Disclosure Representative means the Finance Director, or his or her designee, or such other person as the Issuer shall designate in writing to the Disclosure Dissemination Agent from time to time as the person responsible for providing Information to the Disclosure Dissemination Agent.

  • Project Proponent means the individual or organization that has overall control and responsibility for the Project, or an individual or organization that together with others, each of which is also a Project Proponent, has overall control or responsibility for the Project. The entity(s) that can demonstrate Project Ownership in respect of the Project. For the avoidance of doubt where an individual executes this Representation in their capacity as an authorized office holder of the company who is the Project Proponent, this Representation is made by the company, not the authorized office holder;

  • CEQA means the California Environmental Quality Act.

  • Environmental Management Framework and “EMF” mean the framework of the Borrower for the management of social and environmental aspects of the Project dated April 24, 2007 and disclosed to the public on even date therewith, as may be amended from time to time with the prior approval of the Bank.

  • national competent authority means any national competent authority as defined in Article 2(2) of Regulation (EU) No 1024/2013;

  • Company Superior Proposal shall have the meaning set forth in Section 7.4(b).

  • Competent Authority and ‘Appellate Authority’ shall mean the following:

  • Non-Participating Certified Clinical Nurse Specialist means a Certified Clinical Nurse Specialist who does not have a written agreement with the Claim Administrator or another Blue Cross and/or Blue Shield Plan to provide services to you at the time services are rendered.

  • Plaintiffs’ Releasees means Plaintiffs, and any and all of their related parties, including, without limitation, any and all members of their immediate families, agents or other persons acting on their behalf, attorneys, advisors, financial advisors, accountants, assigns, creditors, heirs, estates and legal representatives.

  • Company Board means the Board of Directors of the Company.

  • Private Letter Ruling shall have the meaning set forth in the Recitals.

  • Representative of a prospective contractor means an officer or director of a corporation, a member or manager of a limited liability corporation, a partner of a partnership or a trustee of a trust of the prospective contractor.

  • Environmental Management Plan or “EMP” means the environmental management plan for the Project, including any update thereto, incorporated in the IEE;

  • LOCKHEED XXXXXX Procurement Representative means a person authorized by LOCKHEED XXXXXX'x cognizant procurement organization to administer and/or execute this Contract.

  • Approved Share Plan means any employee benefit plan which has been approved by the board of directors of the Company prior to or subsequent to the date hereof pursuant to which Ordinary Shares and standard options to purchase Ordinary Shares may be issued to any employee, officer or director for services provided to the Company in their capacity as such.

  • Tax Filing Authorised Person means such person as any Director shall designate from time to time, acting severally.

  • Board of Supervisors means the Board of Supervisors of the County.

  • Environmental Licence means any permit, licence, authorisation, consent or other approval required by any Environmental Law.

  • Public Procurement means the acquisition by any means of goods, works or services by the government;