CONTRIBUTION IN THE COMPANY (ACCORDING TO THE MACEDONIAN COMPANY LAW)

Abstract

The contribution in the company is the second constitutive element of the company, apart from the plurality of the members and their participation in the final results of the company’s, which by the Macedonian company law is defined as “the capital which in the foundation (or in the process of increasing the share capital) is left for the company. The contributions of the company are in the forms of money, assets and real estate as well as rights (labour and services, only if allowed by the law) which the member, i.e. the stockholder, transfers it to the company in the process of the establishment or in the process of increasing the share capital.323 Since the contributions are the first and main source in establishing the capital of the company, it is clearly that the prime duty of the member is to make a contribution into the company. As we have mentioned before, the duty to make a contribution (money, movables, real estate and the rights, labor and services only if allowed by the law) in the company, establishing the initial capital, which is not the only condition for foundation, but it is also a condition for further existence of the company, exists in all kinds of companies. We have already mentioned one of the most important characteristic that includes the term prime capital, and that is the fact that contributing in the company is an essential requirement for the foundation of the company. If there are no contributions made, a company cannot be established by legal terms. Since, without a capital (which is established through contributions), the company cannot execute its primary function for which is entitled to, and therefore a legal person cannot exist without a capital.