1주 발행 주식회사의 법률관계

It is possible to issue a single stock and single stock corporations exist in foreign countries. This article analyzes legal issues on single stock corporations and explores benefits of issuing a single stock. A single stock can be owned by one person, unincorporated entities, partnership or multiple persons. It is critical to identify a stockholder depending on the type of ownership in relation to issues on exercising shareholder’s rights and restriction on transfer of ownership of stock or shares. Co-authors conclude that a stockholder is unincorporated entities and partnership themselves and respective co-owners based on the principle that one who acquires a stock is a stockholder. Internal decision making in unincorporated entities and partnership is made according to the Civil Code and unincorporated entities and partnership exercise their stockholders’ right against stock corporations. In case of co-ownership, however, it is reasonable to apply analogically corporation law because the decision making process among co-owners is similar to that in general stockholders meeting. It is observed that provisions on listing, different kinds of stocks and acquirement of treasury stocks do not apply to single stock corporations. Single stock corporations would be a favorable tool in maintaining its personal closeness and escaping procedural requirements for stockholders’ meeting and their resolutions. For these reasons, it can be a useful type for special purpose vehicles and paper companies.