When the operation of the partners' current accounts is not regulated in the articles of association or in a separate document approved unanimously by the partners, it is possible to govern it with a partner current account agreement signed between the company and the person in question.
In the absence of provisions on the operation of partners' current accounts in the articles of association or in a separate document unanimously approved by the partners, a associate current account agreement can be signed between the company and the partner concerned.
If you operation of partner current accounts is not provided for in the articles of association or in a separate document unanimously approved by the partners, it is possible to regulate it through a associate current account agreement concluded between the company and the person concerned.
If the terms ofuse of partners' current accounts in the statutes or in an act unanimously approved by the partners, it can be settled with a associate current account agreement signed between the company and the party concerned.
When the how partner current accounts work is not defined in the articles of association or in a separate act approved unanimously by the partners, it can be governed by a associate current account agreement signed between the company and the person concerned.
When the modus operandi of the partners' current accounts is not determined
Validity of the account agreement between shareholders
For an account agreement between shareholders to be valid, there must be a document signed by the company and by the shareholder concerned. The account agreement between shareholders is a contract which is subject to the procedure for regulated contracts because it is not an ordinary transaction for the company. An appropriate authorization procedure depending on the legal form of the company is therefore necessary.
Rules for associated current accounts
General information
All contracts include general information:
- Identification of the parties, i.e. the company and the holder of the associated current account,
- Purpose of the contract, which is to define the terms of use of the associated current accounts.
- Contract length.
Contributions to associated current account
The associate current account contract may determine the exact amount that the associate agrees to contribute to the company and/or the conditions for making contributions to the associated current account.
Remuneration of the associated current account
The parties to the contract can choose whether or not to include a remuneration for the funds paid into the associated current account. This remuneration consists of applying a fixed interest rate.
If the holder of the associated current account is a legal person, it is mandatory to provide for remuneration, otherwise tax risks are to be feared.
More information : remuneration of associated current accounts
Refund methods
The associated current account contract may also provide for the terms of repayment of contributions made to the associated current account, with:
- Procedure for requesting a refund (verbal request, written request, etc.),
- Reimbursement terms: immediate reimbursement, staggered reimbursement, possibility of refusal in the event of a delicate financial situation, etc.
More information : reimbursement of associated current accounts
blocking clause
The associated current account contract may include a blocking of contributions in the associated current account over a specific period, not for an indefinite period.
Outcome of the associated current account in the event of transfer of securities
It is also important to provide, in the contract, what happens to the current account of a partner who sells his shares to a buyer: should it be reimbursed immediately? Is it transmitted to the purchaser with the titles?
Non-compliance with the associated current account agreement
The party that does not comply with the terms of the associated current account agreement will incur contractual liability.
