When partners decide to create an SAS, they must consult on the lifetime of the society. This period defines the when the SAS ends. Although this date can be postponed, certain conditions must be met. Foundation-company-ricard provides you with the information you need to determine the lifespan of your SAS.
La period of existence of an SAS represents the time limit during which the partners want carry out the activity of the society. It provides, directly or indirectly, the date on which the SAS will cease to exist. This period of time is determined from the date of registration in the Trade and Companies Register (RCS).
When the term is near, the shareholders gather to decide on the renewal (or not) of the duration of the company. They will then decide extend or dissolve. Failure to extend the duration of a company is a cause for dissolution.
La longevity is an important element to take into account when creating a Simplified Joint Stock Company (SAS). This cannot be unlimited or exceed 99 years. However, it can be renewed according to the wishes of the partners.
If the statutes of the SAS do not stipulate its longer term,, an interested party can take legal action to find out its longevity. The clauses providing for a automatic renewal do not produce any legal effect.
The law provides some flexibility to partners for determine the duration of their society. It can be a number of years, but not only. Partners have the option of setting a precise date or to provide that the company will be dissolved on the occurrence of a event which they will define beforehand.
An SAS is a company whose partners have limited liability. It must therefore be registered in a specific legal register: the Trade and Companies Register (RCS). When it is created, its period must be indicated.
Once the registry of the commercial court has processed the registration file, a Certificate of registration is issued to the SAS. The duration is mentioned there, as well as other essential information about the company (its seat neighborhoods, are the but, to denomination, etc.).
When the SAS deadline approaches, shareholders must meet and make a collective decision about the future of their society:
When they choose to continue the activity and an extension of the duration, they must modify the statutes of the SAS. To do this, they must:
