Joint-Stock Company
Corporate, Commercial and Contract Law
A joint-stock company is a capital company whose share capital is divided into shares and which is liable for its debts only with its own assets. It is regulated in Articles 329 et seq. of the Turkish Commercial Code (TTK). Shareholders, as a rule, are obliged only to pay the capital share they have subscribed and are not personally liable for the company’s debts. Its main organs are the general assembly and the board of directors; it may be established by a single shareholder and may operate for any economic purpose not prohibited by law.
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