"jscs" - 1 õppematerjal

Business peciliarities in Ukraine and Bealrus

board of directors (optional). An individual executive body (director) runs its day-to-day business; there can also be a collective executive body (managing board) running it. The members of an LLC are not responsible for its obligations and bear the risk of loss only within the limits of their participatory interests. 2.7.2. Joint-Stock Company Joint-stock companies (JSC) might look a bit more complicated from the administrative burden standpoint. JSCs generally fall into two categories: closed and open. The difference between an open and a closed JSC is that in an open JSC shares may be freely sold to third parties, while in a closed JSC share transfers are subject to the pre-emptive rights of other shareholders. The minimum charter fund requirement for incorporation is currently: 100 basic units (approximately 1,175 USD) for a closed JSC. 400 basic units (approximately 4,700 USD) for an open JSC.