股东出资加速到期制度研究

A Study on the System of Accelerated Maturity of Shareholders’ Capital Contributions

摘要: 在认缴制背景下，股东享有出资期限利益，但当公司无法清偿到期债务时，此利益应受限，以维护债权人权益。制度形成过程中，《公司法》历经多次修订，从严格设定加速到期条件到适度放宽门槛，逐步优化，但仍面临“公司不能清偿到期债务”认定标准模糊、出资财产清偿规则选择困难等困境。为完善该制度，采用“未清偿说”，即只要公司债权人能证明公司未及时清偿到期债务，就应判定公司不能清偿到期债务，无需将执行程序作为判定的必要条件；同时建议采取“入库规则”，股东提前缴纳的出资应先缴入公司账户，再由公司按照正常程序清偿债务，以实现债权人公平受偿，平衡股东出资自由与债权人利益保护，促进公司法体系的协调与完善。

Abstract: Under the capital subscription system, shareholders enjoy the benefit of deferred capital contribution. However, when a company is unable to repay its due debts, this benefit should be restricted to safeguard the interests of creditors. During the evolution of this legal framework, the Company Law has undergone several amendments—transitioning from stringent conditions for accelerating capital contributions to a more relaxed approach—gradually improving the system. Nevertheless, challenges persist, such as the ambiguous criteria for determining a company’s inability to repay debts and the complexity of choosing appropriate rules for using contributed capital to settle obligations. To improve the system, this paper advocates for the “Outstanding Debt Approach”, whereby a company is deemed unable to repay its debts if creditors can prove that due debts remain unpaid, without requiring formal enforcement proceedings. Additionally, the “Deposit Rule” is proposed: shareholders’ early contributions should first be deposited into the company’s account, and then used by the company through standard procedures to repay debts. This ensures equitable repayment to creditors, balances shareholders’ capital contribution autonomy with creditor protection, and promotes the coherence and enhancement of the corporate legal framework.