Article 53. The Legal Entity's Bodies

1. A legal person shall acquire civil rights and assume civil duties through its bodies acting in the name thereof (Item 1 of Article 182) in accordance with a law, other legal acts and the constitutive document.

The procedure for the formation of, and the scope of competence of, the bodies of a legal person are defined by a law and the constitutive document.

A provision may be included in the constitutive document according to which the power to act in the name of the legal entity is granted to several persons who act jointly or separately from each other. Information about it shall be included in the comprehensive state register of legal entities.

2. In the cases stipulated by the present Code, the legal entity shall have the right to acquire the civil rights and to assume upon itself the civil duties through its participants. 

3. A person who by virtue of a law or another legal act or the constitutive document of the legal entity is empowered to act in its name shall act in the interests of the legal entity he represents in a bona fide and reasonable manner. The same duty shall be executed by the members of the collective bodies of the legal entity (the supervisory or another board, the governing board, etc.).

4. Relationships between the legal entity and the persons who sit on its bodies are regulated by the present Code and the laws on legal persons adopted pursuant thereto.