未届期股权转让后的出资责任承担研究

Research on the Capital Contribution Obligation after the Transfer of Undue Equity

摘要: 在认缴资本制下，股东享有出资期限利益，由此催生了未届出资期限股权的转让实践。当股权在出资义务到期前发生转让时，若原股东或受让股东未履行后续出资义务，责任应由谁承担，成为司法实践与理论争议的焦点。本文旨在厘清未届期股权转让的法律性质，梳理并评析现行法律框架下的责任分配规则，检视司法实践中存在的裁判分歧，进而提出体系化的责任承担规则构建建议。研究认为，应坚持“原则上由受让股东承担出资义务，原股东在特定情形下承担补充责任”的基本立场，并完善加速到期、债权人利益保护及责任追偿等配套制度，以平衡股东期限利益、股权自由转让与公司债权人保护之间的法益冲突。

Abstract: Under the subscribed capital system, shareholders enjoy the benefit of the deadline, leading to the practice of transferring equity before the contribution obligation falls due (i.e., “pre-term equity transfer”). When equity is transferred before the contribution obligation matures, and neither the transferor nor the transferee fulfills the subsequent obligation, determining liability becomes a focal point of judicial practice and theoretical debate. This thesis aims to clarify the legal nature of pre-term equity transfer, analyze the liability allocation rules under the current legal framework, examine the divergences in judicial decisions, and propose a systematic construction of liability rules. The study argues for adhering to the fundamental principle that “the contribution obligation totally rests with the transferee shareholder, with the transferor assuming supplementary liability under specific circumstances.” It further suggests improving supporting mechanisms such as acceleration of the contribution term, protection of creditors’ interests, and liability recourse, to balance the conflicts between shareholders’ term benefit, the freedom of equity transfer, and the protection of company creditors.