隐名股东的身份认定及其显名路径——基于最高人民法院76份裁判文书的实证分析

Research on the Identification of Dormant shareholders and its Naming Determination:An Empirical Analysis Based on 76 Judgments of the Supreme People’s Court

最高人民法院的裁判文书显示,隐名股东身份认定及其显名纠纷之裁判通常聚焦于股权代持协议或者事实的认定、代持协议效力认定、实际出资情况认定以及其他股东同意情况认定四个主要方面。隐名股东的身份认定及显名路径问题不仅涉及到股权代持中隐名股东与显名股东之间的契约关系,还涉及到隐名股东与其他股东以及与公司之间的组织关系;不仅涉及到财产关系的认定,还涉及到人身关系的认定。在合同法维度,隐名股东身份的认定不应拘泥于出资义务的承诺或履行等其他标准,应重点审查隐名股东与显名股东之间是否形成代持股权之"合意"。在公司法维度,隐名股东之显名路径,不应局限于其他股东过半数同意这一形式标准,而应从实质层面考察隐名股东显名化是否会侵损公司之人合性,若未侵损则可显名,反之则不宜显名。

The judgments of the Supreme People’s Court show that the identification of dormant shareholders and the determination of their naming disputes usually focus on four major aspects:equity holding agreements or facts,effectiveness of holding agreements,actual capital contributions,and other shareholders’consent.The issue of the identification of the dormant shareholder and the naming path is not only related to the contractual relationship between the dormant shareholder and the nominal shareholder,but also the organizational relationship between the dormant shareholder and other shareholders and the company.In the dimension of contract law,the identification of dormant shareholders should not be limited to the commitment or performance of capital contribution obligations and other standards,and should focus on examining whether there is a"consensus"between the dormant shareholders and the nominal shareholders for holding equity for others.In the dimension of company law,the naming path of dormant shareholders should not be limited to the formal standard that more than half of other shareholders agree.It should be examined from a substantive level whether the dominance of dormant shareholders will infringe the company’s humanity.If the answer is no,then dormant shareholders can be named,and vice versa.