新公司法下股权让与担保效力研究  

Research on the Effectiveness of Equity Transfer Guaranty under the New Company Law

作　　者：薛虹 Xue Hong

机构地区：[1]中国政法大学民商经济法学院

出　　处：《北京政法职业学院学报》2024年第4期1-8,共8页Journal of Beijing College of Politics and Law

摘　　要：2023年新修订的《公司法》第86条首次明确了股权变动时点,以变更股东名册作为股权变动的公示要件,明确承认了区分原则。股权让与担保的设立因涉及股权变动,亦应在遵循区分原则基础上展开,使该制度在民法和公司法的体系逻辑中更有融贯性。当事人设定股权让与担保,对于已经完成股东名册变更登记的,股权确定发生变动,债权人作为股东享有股东权利,其担保效果及优先受偿性自不待言。在买回、红利分配、债权人处分股权等问题上,依照合同约定在当事人之间具有内部效力。对于尚未完成股东名册变更、股权未发生移转的情形,属于债务人以合同提供担保,担保物权未设立;债权人获得的担保在实现阶段仅有债权效力,不具有优先受偿性及排他性等物权效力。Article 86 of the newly revised Company Law in 2023 clarifies the timing of equity changes for the first time,using the alteration of the shareholder register as a public notice requirement for equity changes and explicitly acknowledging the principle of distinction.The establishment of equity transfer guaranty,involving equity changes,should also proceed on the basis of adhering to the principle of distinction,making the system more coherent within the logical systems of civil law and company law.When parties establish an equity transfer guaranty and have completed the registration of changes in the shareholder register,the equity is definitively changed,and the creditor enjoys shareholder rights as a shareholder,with its guaranty effect and priority in compensation being self-evident.On issues such as repurchasing,dividend distribution,and disposal of equity by creditors,they have internal validity among the parties in accordance with the contract.For situations where the alteration of the shareholder register has not been completed and the equity has not been transferred,it belongs to the debtor providing guaranty through the contract,with the security interest not established;the guaranty obtained by the creditor only has credit validity at the realization stage,lacking priority in compensation and exclusive validity of real rights.

关 键 词：2023年《公司法》 股权让与担保 股权变动 区分原则 

分 类 号：D913[政治法律—民商法学]