The Legal Problems and Legal Suggestions of Shareholder’s Responsibilities in a Company

Abstract

Thai Company Law stated that shareholders to be liable only for the amount which is still paid not complete the value of the shares or not more than the number of shares to be paid only. When the company is already registered, the company will get a separate status as juristic person. It makes the shareholders liable separately and not be liable for the company's liabilities. Creditors or those who have suffered damages cannot be called directly to the shareholders to be liable. But, in managing of the company actions, even the directors have to manage according to the company's articles of association. However, the law has provided is in the control of the general meeting of all shareholders. Therefore, shareholders hold the true powers. In determining the direction of the company's management; especially the major group of shareholders who can control action of voting rights in the company. In the case of relying on the principle of being a juristic person of the said company act in dishonest misleading, fraudulent or deceptive and causing damage to Creditors or third parties. Thus, in order to solve these problems, it should be grant regulations that provide Shareholders must also be liable to the company; by applying the principle of not taking into account the legal entity of the company specifically stipulated as an exception to the principle of limiting liability of a juristic person in the law relating to a company of Thailand. This exception provides justice to creditors and those who have impacted more damage.