LAW OF THE REPUBLIC OF MOLDOVA

of November 23, 2017 No. 246

About the state and municipal companies

The parliament adopts this organic law.

This law establishes legal, organizational and economic conditions of creation, functioning and termination of activities of the state and municipal companies.

Chapter I. General provisions

Article 1. State and municipal companies

(1) the State company is the legal entity performing business activity on the basis of the state-owned property transferred to it to the control and/or brought as contribution to the authorized capital and on the basis of the property acquired as a result of the performed financial and economic activities.

(2) the Municipal company is the legal entity performing business activity on the basis of the property of the administrative-territorial unit / autonomous territorial entity Gagauzia transferred to it to the control and/or brought as contribution to the authorized capital and on the basis of the property acquired as a result of the performed financial and economic activities.

(3) Features of creation, functioning and the termination of activities of the state and municipal companies (further – the state/municipal company) are established by this law and other regulations.

(4) the State/municipal company bears responsibility according to the obligations all the property which it owns on the property right.

(5) the State/municipal company acquires the rights of the legal entity from the date of entering of the corresponding record into the State register of legal entities.

(6) the State/municipal company performs the activities under the certain name including in need of the word "state company" and "municipal company" or abbreviation of "GP" and "MT".

(7) the State/municipal company is determined by the state identification number (IDNO).

(8) On the letterhead the name, legal address and the state identification number are specified.

(9) the State/municipal company has the right to open with the notification on it of the founder bank accounts as in the territory of the Republic of Moldova, and abroad.

(10) the State/municipal company has the right to create branches with the consent of the founder and to open representations and to participate in creation of associations and concerns.

(11) the State/municipal company cannot be the founder of commercial society.

Article 2. Procedure for creation and registration of the state and municipal companies

(1) Function of the founder of the state company on behalf of the Government is performed by the Agency of public property.

(2) Function of the founder of the municipal company is performed by authorized body of the power of administrative and territorial unit, and in the autonomous territorial entity Gagauzia – and Executive committee.

(3) Constituent documents of the state/municipal company are the resolution/decision on creation and the charter of the company. The standard charter of the state/municipal company affirms the Government.

(4) the Charter of the state/municipal company affirms the founder and contains the following data:

a) the name including reduced, the state/municipal company and its location;

b) date and number of the resolution/decision of the founder on creation of the state/municipal company;

c) types of activity;

d) activities term;

e) authorized capital and procedure for its change;

f) structure of the property brought in the authorized capital;

g) structure and the list of the property transferred to the state/municipal company on the right of control;

h) the geometrical and/or cadastral plan and the area of the parcel of land used by the state/municipal company;

i) the leading and regulatory authorities, their numerical structure, procedure for creation, power and procedure of their activities;

j) procedure for distribution and use of net profit, and also covering of losses;

k) procedure for the conflict resolution of interests;

l) procedure for reorganization and dissolution of the state/municipal company;

m) other provisions which are not contradicting the current legislation.

Chapter II. Property of the state and municipal companies

Article 3. Structure of property and procedure for its use

(1) the Property of the state/municipal company consists of property of the private sphere государства/административно-территориальной the unit/autonomous territorial entity Gagauzia brought as contribution to the authorized capital of the company, and the property acquired as a result of the performed activities which it owns on the property right.

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