Fracture of Shareholders’ Rights to Participate in Management in  Joint Stock Company: Establishment of Usufruct on the Share

Cenkci Esra

doi:https://dx.doi.org/10.26650/annales.2021.70.0002

Research Article

DOI :10.26650/annales.2021.70.0002 IUP :10.26650/annales.2021.70.0002 Full Text (PDF)

Fracture of Shareholders’ Rights to Participate in Management in Joint Stock Company: Establishment of Usufruct on the Share

According to the provisions of property law, the usufruct grants the owner the power to possess, manage, use and benefit from the subject of the usufruct. This study determines how these powers will spread to rights to participate in management arising from the company’s share when the subject of the usufruct is a share of a joint stock company. The issue is handled in the center of article 432 II of the Turkish Commercial Code. The Turkish Commercial Code differs from the provisions of the Swiss Code of Obligation 690 II and the Turkish Commercial Code numbered 6762 in certain points and regulates that the voting right arising from the share which has usufruct on it is used by the usufructuary, but the usufructuary shall be liable for any loss incurred when he / she does not respect the interests of the shareholder. When evaluated together with the rules of property law, this study concludes that the provision brings a regulation in terms of voting rights; the usufructuary who has voting rights can also use other rights to participate in management, thus taking over the management of the share. However, the shareholder is not completely ineffective in this case. Some of the rights to participate in the management can also be used by the shareholder. Nevertheless, this does not include the right to file an annulment action, which is at least as effective as the voting right. This study also discusses whether the shareholder can maintain his or her authority over the share, despite there being a usufruct on the share, by stipulating otherwise in the articles of association or an agreement between parties.

Keywords: Share of joint stock company, usufruct, voting right, right to attend assembly general meetings, right to demand information, right to file an annulment action

DOI :10.26650/annales.2021.70.0002 IUP :10.26650/annales.2021.70.0002 Full Text (PDF)

Anonim Ortaklıkta Pay Sahibinin Yönetime Katılma Haklarında Kırılma: Pay Üzerinde İntifa Hakkı Tesisi

Esra Cenkci

Eşya hukukuna ilişkin hükümler uyarınca intifa hakkı, sahibine, intifa konusunu zilyetliğinde bulundurma, yönetme, kullanma ve ondan yararlanma yetkilerini tanımaktadır. Bu çalışmada, intifa hakkının konusu anonim ortaklık payı olduğunda anılan yetkilerin ortaklık payından doğan yönetime katılma haklarına nasıl sirayet edeceği incelenmektedir. Konu, Türk Ticaret Kanunu 432 II merkezinde ele alınmaktadır. Türk Ticaret Kanunu bu konuda gerek mehaz İsviçre Borçlar Kanunu 690 II hükmünden gerekse 6762 sayılı Türk Ticaret Kanunu’ndan bazı noktalarda ayrılarak üzerinde intifa hakkı bulunan paydan doğan oy hakkının intifa hakkı sahibi tarafından kullanılacağını; pay sahibinin menfaatlerini gözetmeyen intifa hakkı sahibinin tazminat sorumluluğunun doğacağını düzenlemektedir. Eşya hukuku kuralları ile birlikte değerlendirildiğinde hükmün oy hakkı açısından bir düzenleme getirdiği; oy hakkına sahip olan intifa hakkı sahibinin diğer yönetime katılma haklarını da kullanabildiği ve böylece payın yönetiminin intifa hakkı sahibinde olduğu sonucuna ulaşılmaktadır. Öte yandan, pay sahibi bu durumda tamamen etkisiz değildir; yönetime katılma haklarının bazıları pay sahibi tarafından da kullanılabilmektedir. Ne var ki, bu kapsama en az oy hakkı kadar etkili bir hak olan iptal davası açma hakkı dahil değildir. Çalışmada ayrıca, esas sözleşmede veya özel bir anlaşmada hükmün aksinin öngörülerek payın üzerinde intifa hakkı bulunmasına rağmen pay sahibinin payı üzerindeki otoritesini sürdürüp sürdüremeyeceği de tartışılmaktadır.

Keywords: Anonim ortaklık payı, intifa hakkı, oy hakkı, genel kurula katılma hakkı, bilgi alma hakkı, iptal davası açma hakkı

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APA

Cenkci, E. (2021). Fracture of Shareholders’ Rights to Participate in Management in Joint Stock Company: Establishment of Usufruct on the Share. Annales de la Faculté de Droit d’Istanbul, 0(70), 53-71. https://doi.org/10.26650/annales.2021.70.0002

AMA

Cenkci E. Fracture of Shareholders’ Rights to Participate in Management in Joint Stock Company: Establishment of Usufruct on the Share. Annales de la Faculté de Droit d’Istanbul. 2021;0(70):53-71. https://doi.org/10.26650/annales.2021.70.0002

ABNT

Cenkci, E. Fracture of Shareholders’ Rights to Participate in Management in Joint Stock Company: Establishment of Usufruct on the Share. Annales de la Faculté de Droit d’Istanbul, [Publisher Location], v. 0, n. 70, p. 53-71, 2021.

Chicago: Author-Date Style

Cenkci, Esra,. 2021. “Fracture of Shareholders’ Rights to Participate in Management in Joint Stock Company: Establishment of Usufruct on the Share.” Annales de la Faculté de Droit d’Istanbul 0, no. 70: 53-71. https://doi.org/10.26650/annales.2021.70.0002

Chicago: Humanities Style

Cenkci, Esra,. “Fracture of Shareholders’ Rights to Participate in Management in Joint Stock Company: Establishment of Usufruct on the Share.” Annales de la Faculté de Droit d’Istanbul 0, no. 70 (Jun. 2023): 53-71. https://doi.org/10.26650/annales.2021.70.0002

Harvard: Australian Style

Cenkci, E 2021, 'Fracture of Shareholders’ Rights to Participate in Management in Joint Stock Company: Establishment of Usufruct on the Share', Annales de la Faculté de Droit d’Istanbul, vol. 0, no. 70, pp. 53-71, viewed 5 Jun. 2023, https://doi.org/10.26650/annales.2021.70.0002

Harvard: Author-Date Style

Cenkci, E. (2021) ‘Fracture of Shareholders’ Rights to Participate in Management in Joint Stock Company: Establishment of Usufruct on the Share’, Annales de la Faculté de Droit d’Istanbul, 0(70), pp. 53-71. https://doi.org/10.26650/annales.2021.70.0002 (5 Jun. 2023).

MLA

Cenkci, Esra,. “Fracture of Shareholders’ Rights to Participate in Management in Joint Stock Company: Establishment of Usufruct on the Share.” Annales de la Faculté de Droit d’Istanbul, vol. 0, no. 70, 2021, pp. 53-71. [Database Container], https://doi.org/10.26650/annales.2021.70.0002

Vancouver

Cenkci E. Fracture of Shareholders’ Rights to Participate in Management in Joint Stock Company: Establishment of Usufruct on the Share. Annales de la Faculté de Droit d’Istanbul [Internet]. 5 Jun. 2023 [cited 5 Jun. 2023];0(70):53-71. Available from: https://doi.org/10.26650/annales.2021.70.0002 doi: 10.26650/annales.2021.70.0002

ISNAD

Cenkci, Esra. “Fracture of Shareholders’ Rights to Participate in Management in Joint Stock Company: Establishment of Usufruct on the Share”. Annales de la Faculté de Droit d’Istanbul 0/70 (Jun. 2023): 53-71. https://doi.org/10.26650/annales.2021.70.0002

Issue 702021, P. 53-71

TIMELINE

Submitted	26.08.2020
Accepted	10.03.2021
Published Online	10.05.2021

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Annales de la Faculté de Droit d’Istanbul