未届期股权转让出资责任承担的规制路径

Regulatory Approaches to the Assumption of Capital Contribution Liability for Equity Transfer Prior to Maturity

摘要: 新《公司法》实施前，司法实践对未届期股权转让后的出资责任这一问题存在客观上的裁判差异。新《公司法》第88条第1款对这一问题作出明确规定，同时对其司法适用的溯及力问题作出解释。这一规定的出发点在于对债权人的保护，从出资责任的法定性兼具约定性的双重属性、债务承担理论等角度出发，要求原股东承担补充责任具有正当性。针对该条款的实际适用，责任的认定应采客观化标准、在多重股权转让中股东出资责任承担的逆向递补，从法律规范体系化的角度，结合加速到期制度和董事催缴制度，实现对债权人利益的保护。

Abstract: Prior to the implementation of the new Company Law, judicial practice exhibited objective disparities in adjudicating the issue of capital contribution liability following equity transfers prior to the maturity date of contribution. Article 88(1) of the new Company Law provides explicit provisions on this issue, accompanied by an interpretation concerning the retroactive effect of its judicial application. The underlying rationale of this provision lies in the protection of creditors. From the perspectives of the dual attributes of statutory and contractual nature of capital contribution liability, as well as the theory of debt assumption, it is justified to require original shareholders to bear supplementary liability. Regarding the practical application of this provision, the determination of liability should adopt an objective standard, and in cases of multiple equity transfers, the assumption of capital contribution liability by shareholders should follow a reverse sequential supplementation. From the perspective of systematic legal norms, combined with the accelerated maturity system and the director’s demand system for capital contributions, the protection of creditors’ interests shall be achieved.