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Shareholder Current Account Agreement

Any amount placed by the shareholder beyond the share capital is designated as a fund set up and recorded on the shareholder`s performance account. Home News Corporate Law PACTE Law: Softened conditions for the operation of a current shareholder account L.312-2 of the French trade code stipulates that the funds that the company receives or leaves in an account “are not considered refundable funds” as follows: A current account of the shareholder is a record of the net balance of the shareholder imported and withdrawn by the shareholder. This moving balance is recorded in the balance sheet/balance sheet and may vary from an entity`s asset to a liability of the entity. In practice, the performance account can be financed by advances, i.e. the payment of funds to the company, or by loans, so that the company has money that the shareholder temporarily forgoes[1], for example. B, dividends or compensation. The contribution to the shareholder`s performance account can be analysed in the form of a shareholder`s loan to the company for an indeterminate period. This balance, if recorded as an asset, can be recovered from the shareholder by the company in the event of liquidation. This balance, if recorded as liabilities, is a debt that the shareholder has against the company in the event of liquidation. This claim can be secured or secured if the appropriate documentation has been completed. What is a shareholder account? The shareholder performance account is essentially a loan from a shareholder. A written loan agreement is a good way to register a loan and clearly describe each party`s obligations in the contract as well as all other conditions. Finally, clarification is needed regarding the sale/transfer of shares.

In the absence of an express clause in the company`s by-law or contractual provision, the transfer of its shares by a shareholder does not automatically result in the transfer of the current account opened in its name to the purchaser. Indeed, the company`s capabilities as shareholders and creditors are independent of each other. In this regard, it should be noted that the transfer of the current account is either the result of the company`s statutes or contractual provisions in the current account contract or in the share transfer contract. An oversubscribed current account is considered an asset in the entity`s balance sheet (i.e.: