有限责任公司股权登记第三人保护范围——以股权登记与物权登记效力区分为线索  

The Scope of Protection of Third Parties in Shareholder Register of Limited Liability Companies:Based on the Distinction Between the Validity of Shareholder Registration and Property Registration

作　　者：蔡立东[1] 高博 CAI Li-dong;GAO Bo

机构地区：[1]吉林大学法学院 [2]吉林大学司法文明协同创新中心,长春130012

出　　处：《吉林大学社会科学学报》2024年第6期121-132,234,共13页Jilin University Journal Social Sciences Edition

基　　金：教育部哲学社会科学研究重大项目(2023JZDZ014)。

摘　　要：股权登记具有保护“善意相对人”的效力,但债权第三人是否属于“善意相对人”,以及其与隐名股东的保护顺位如何,仍存在较大争议。既有观点套用物权登记效力或物权登记第三人保护原理,既缺少对股权登记促成第三人信赖的经验考察,也缺少对股权登记与物权登记效力区分的理论反思。对信赖要件内含因果关系的忽视,则直接导致股权登记第三人保护范围被不当扩张或限缩。根据信赖保护原则,合理信赖股权登记并因此遭受信赖损失的债权第三人理应纳入“善意相对人”范畴。由于股权归属表征多样,以及第三人理性程度、注意义务、调查能力等状态存在较大差异,合理信赖的认定应基于状态依存性进行类型区分:当第三人为“低标准”主体时,合理信赖应采善意推定;当第三人为“中标准”主体时,对股权登记真实性应进行与其状态相匹适的调查;当第三人为“高标准”主体时,应由第三人举证信赖事实,证明信赖外观与遭受利益损失之间具有因果关系,该举证责任可根据其举证能力酌情减免。Shareholder registration has the validity of protecting"bona fide contract party",but there is still great controversy as to whether the third party creditor belongs to the"bona fide contract party"and how it ranks with the hidden shareholder in terms of protection.The existing view applies the validity of property registration or the principle of third party protection in property registration.This theory lacks empirical research on how shareholder registration promotes reliance among third parties.Besides,it is deficient in theoretical reflection on the distinction between the validity of shareholder registration and property registration.This popular view fails to consider the inherent causal relationship required by the element of reliance,which directly leads to the improper expansion or restriction of the scope of protection for third parties in shareholder registration.There are cases when the third party creditor trusts shareholder register with reasonable care but suffers loss as a result.Based on the principle of reliance protection,such third party creditors should be regarded as"bona fide contract party".Because the ownership of company stockstakes various forms,and there are large differences in the third party's rationality,duty of care,investigative capabilities and so forth,the determination of reliance should be differentiated based on status dependence:when the third party is a subject of"low standard",their action to trust shareholder register with reasonable care should be presumed in reliance;when the third party is a subject of"medium standard",the authenticity of the shareholder registration should be investigated in a manner that complies with the status of the third party;when the third party is a subject of"high standard",they should bear the burden to prove that their trust is in reliance,i.e.to prove the causal relationship between reliance and the loss of interest suffered,and this burden of proof may be reduced or waived based on their capacity to provide evidence.

关 键 词：股权登记 对抗效力 信赖保护 状态依存 

分 类 号：D923[政治法律—民商法学] D922.291.91[政治法律—法学]