Article 49. The Legal Capacity of the Legal Entity

1. The legal entity shall enjoy the civil rights that correspond to the goals of its activity, stipulated in its constituent document (Article 52), and shall discharge the duties related to this activity.

The commercial organisations, with the exception of the unitary enterprises and the other law-stipulated kinds of organisations, shall possess the civil rights and discharge the civil duties, indispensable for the performance of any kinds of activity that are not prohibited by the law.

In the cases envisaged by a law the legal person may pursue certain types of activity only if there is a special permit (licence), membership in a self-regulating organisation or a certificate of clearance to pursue a certain type of work issued by a self-regulating organisation.

2. The legal entity may be restricted in its rights only in the cases and in conformity with the procedure, stipulated by the law. The decision on the restriction of its rights may be disputed by the legal entity in the court.

3. The legal capacity of a legal person comes into being as of the time when information about its formation is entered in the comprehensive state register of legal entities and is terminated as of the time when information about its termination is entered in said register.

The right of a legal person to pursue an activity which requires for its pursuance a special permit (licence), membership in a self-regulating organisation or a certificate of clearance to pursue a certain type of work issued by a self-regulating organisation comes into being as of the time when such permit (licence) is received or at the time indicated therein or as of the time when the legal person joins the self-regulating organisation or as of the time of issuance of the certificate of clearance to pursue the certain type of work by the self-regulating organisation, and is terminated at the termination of the permit (licence), membership in the self-regulating organisation or of the certificate of clearance to pursue the certain type of work issued by the self-regulating organisation.

4. The civil-law status of legal persons and the procedure for their participation in civil-law circulation (Article 2) are regulated by the present Code. The details of the civil-law status of legal persons of the various organisational legal forms, kinds and types and also of the legal persons which are formed to pursue activities in specific spheres shall be defined in accordance with the present Code, other laws and other legal acts.