Page 62 - Albanian law on entrepreuners and companies - text with with commentary

information on a company website and informing the persons making the request about
this way of publication. Otherwise, the documents must be made available for inspection
at the head office of the company.
(2) The Statute may not preclude or restrict the exercise of the rights referred to in
paragraph 1.
(3) If the person responsible for the management fails to provide the information
requested with respect to paragraph 1, interested partners, members or shareholders
may, within 30 days after the refusal, request the competent court to decide on the
obligation to inform. Failure to respond within 7 days constitutes a refusal.

Comments:

Article 15 provides the Company Law’s general information right for partners,
members and shareholders which is important for them to adequately make full use of their
membership rights, especially if they are not participating in the management of the company.

Article 16
Abuse of Position and Legal Form
(1) The individual who is a company member, shareholder, or representative of a
member or shareholder, a Managing Director or a member of the Board of Directors,
that through actions or omissions secures unjust profits for him/herself, or wilfully
causes to third parties a loss of property, is personally responsible towards third parties,
including public bodies, to pay with his/her property for company obligations, when
he/she:
a) abused of the legal form and/or limited liability privilege offered by the
company; or
b) treated one or more company assets as if they were his/her own assets; or
c) at a time when he/she knew or must have known that the company did not have
sufficient capital to meet commitments as against third parties, did not take the
necessary actions within his/her powers pursuant to the law, to impede, depending on
the circumstances, the company to continue its business and/or to assume new
commitments towards third parties, including public authorities;
(2) In cases envisaged in paragraph 1 of this Article, the personal liability for
commitments of the company is limited up to the following values:
a) in the case under letter a) of paragraph 1 of this Article, up to a value equal to
the total amount of outstanding company obligations; or
b) in the case under letter b) of paragraph 1 of this Article, for outstanding
company obligations up to the current market value of the company assets treated as if
they were his/her own assets.

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