PERSONAL AND DERIVATIVE ACTIONS IN COMPANY LAW
Keywords:
company law, personal action, derivative action, fiduciary dutyAbstract
Legal regulation for functioning of economy on the market principles in our country started in 1980s, and, since then, it has been constantly improving with new solutions. Following the trends of the developed countries, our legislation introducer special company law actions into the legal system of the Republic of Serbia. Those special actions are personal and derivative actions (action pro socio – action for society). A personal action can be taken by society members in their own name and on their own behalf against a person with special duty towards the society for the purpose of indemnification of damage the person caused by violating the special (fiduciary) duty towards the society. A derivative action can be taken by society members against the persons with special (fiduciary) duty towards the society based on the breach of duty. Society members may take this action if they possess an appropriate capital census and if they requested in a written request from the society to take a direct action, and the society rejected this request of failed to act upon it. Introduction of personal and derivative actions into our country s legal system is, by all means, a positive fact. However, the specific legal solutions that refer to personal and derivative actions need to be dicussed.
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