有限责任公司股权转让限制规则的反思与重构

Rethinking and Reconstruction of the Restriction Norms on Limited Liability Companies’Stock Rights Transfer

目前我国有限责任公司股权转让限制规则由“同意权+同等条件下优先购买权+反悔权”构成。通过实证分析发现该种限制规则并未产生应有功效,主要原因在于现行股权转让限制规则有运行上的逻辑漏洞、股东同意权虚置以及“同等条件”认定难的问题。结合域外立法例的比较分析得出我国有限责任公司股权转让限制规则的重构,需要先明确法定股权转让单层限制规则,即仅设股东优先购买权。进一步完善“同等条件”的认定规则,确定“同等条件”的标准、范围以及配套合理异议的救济措施,同时删除“反悔权”的相关规定。

At present,the restriction norms of the stock rights transfer of limited liability companies are composed of“the consent right+the preemptive right under the same conditions+the repentance right”.Through empirical analysis,it is found that this type of restriction norms does not produce its due effect,because there exist problems in the current restrictions norms such as the logical loopholes in operation,emptied consent of shareholders,and difficulty in identifying“equal conditions”.Based on the analysis from the perspective of comparative law,it is concluded that the reconstruction of the limited liability company’s stock rights transfer restriction norms ring requires a clear statutory single-tier restriction norm,by which only the shareholder’s preemptive right is established.And then improve the identification rules of“equal conditions”,determine the standards,scope limits of“equal conditions”and supporting relief measures for reasonable objections,and delete the relevant provisions of the“repentance right”.