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A Limited Partnership must have, in addition to the limited partners, general partners with unlimited liability. The partners must complete a memorandum of association specifying the company's business activities, the partners, their capital contribution, and indicating which partners bear limited or general liability. The partnership must include the designation "k.s." or "kom. spol." in its business name. If the business name includes the name of a limited partner, he or she shall have unlimited liability for the partnership's obligations. A limited partner has to make a capital contribution to the partnership in the amount specified in the memorandum of association, but subject to a minimum of EUR 250. The contribution must be paid by the date specified in the memorandum of association, or without undue delay after incorporation of the company. There is no stipulated minimum capital for general partners. The statutory body of a limited partnership is its general partners, each of whom is entitled to act on behalf of the company individually, unless the memorandum of association specifies otherwise. Only general partners are authorised to participate in the management of the company's business. No audit is required.

Co-operative (družstvo)

A co-operative is formed by at least five members who are natural persons. However, it is perfectly acceptable for at least two legal entities to form a co-operative. The purpose of a co-operative is to undertake business activities or to ensure the economic and social or other benefit of its members. An example of social benefit would be where all of the owners or occupiers of flats in a building or group of buildings form a co-operative to deal with building maintenance, cleaning, letting of common space, etc. The co-operative is fully liable for its liabilities. Members do not, however, guarantee the obligations of the co-operative. The co-operative must include the designation "družstvo" in its business name. The co-operative must have a registered capital of at least EUR 1,250. To join the co- operative, new members may be required to make a capital contribution in accordance with the requirements of the articles of association. The outstanding amount of a member's contribution must be paid within three years, unless the articles of association provide otherwise. A co-operative is established at a Members' Meeting which determines the amount of the registered basic capital, approves the articles of association and appoints the members of the Board of Directors (the statutory body of the co-operative) and the Supervisory Committee. The supreme body of a co-operative is the Members' Meeting. When the co-operative has fewer than 50 members, the articles of association may allow the powers of the Board of Directors and the Supervisory Committee to be vested to the Meeting of the Co-operative's Members.


©2010 KPMG Slovensko spol. s r.o. , a Slovak limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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