Accessory organ

Accessory bodies were introduced in the corporate law of other countries at the end of the 18th - beginning of the 19th centuries. The idea of ​​their creation was initially expressed not so much from the positive experience of shareholder appeals that had accumulated by that time, but rather from a theoretical awareness of the need for a fair distribution of profits among all security holders.

Simultaneously with the “Shareholder Laws” in the United States, the last specialized legislation on joint stock companies was adopted in February 1844, the effect of which was significantly limited by the publication of the Shareholders Law of 1970. The recognition of the insolvency of a commercial bank and the establishment of a federal securities regulatory agency also negatively affected the dominance of accessory law. Gradually, the evolution of accessory law led to the repeal of the relevant laws, but the rules establishing the procedure for the distribution of dividends are retained in the Law on Bankruptcy for Public Organizations, the Law on Economic Conditions for Public Employees of 1993 and other acts in a number of countries. In 2005, the Law on the Establishment of Legal Entities changed the provision on accessority, granting the ability of founders to demand the return of the contribution in the event of fraud caused by a corporate action