论未届期股权转让人的补充责任的规范构造

On the Normative Construction of the Supplementary Liability of Transferors of Unpaid Equity

摘要: 2023年修订的《中华人民共和国公司法》第88条第1款确立未届出资期限股权转让中转让人的补充责任制度，在保障股权自由流转与维护公司资本充实之间实现了制度平衡。但该条规定对于转让人补充责任的性质、责任触发条件、追偿权归属以及责任范围等问题并未作出明确规定也无司法解释，导致理论界与司法实践存在较大分歧。基于股东出资责任制度与资本维持原则，本文以《中华人民共和国公司法》第88条第1款为研究对象，运用法教义学分析方法，探讨未届期股权转让人补充责任的规范基础与制度构造。研究认为，受让人取得股东资格后基于成员权概括继受原理应成为出资义务的第一责任主体；转让人承担责任的正当性则来源于其原始出资承诺所形成的信赖利益以及资本充实原则对股东退出自由的限制。转让人承担的责任在性质上应认定为具有法定担保属性的补充责任，而非连带责任或补充连带责任，并应赋予其对受让人的追偿权。司法适用上，应以受让人不能履行出资义务作为责任触发条件，同时通过责任期间、责任内容等规则限制责任范围。通过上述解释路径，既能够维护公司资本信用与债权人利益，又能够避免对股东退出自由造成过度限制，实现公司法多元利益主体之间的平衡。

Abstract: The 2023 Company Law of the People’s Republic of China, Article 88 (1), introduces supplementary liability for transferors of shares with unexpired capital contribution periods, balancing free transferability and capital maintenance. However, the nature, trigger, recourse, and scope of this liability remain undefined, sparking doctrinal and judicial disagreement. This article adopts a doctrinal legal analysis of the Company Law of the People’s Republic of China, Article 88 (1) to explore the normative basis and structure of the transferor’s supplementary liability. It concludes that the transferee, upon acquiring shares, assumes primary contribution liability through general succession of membership rights, while the transferor’s liability rests on the reliance interest generated by the original subscription commitment and the capital maintenance principle’s constraint on exit freedom. The liability is a statutory guarantee-type supplementary liability—not joint or joint and several—and the transferor enjoys a right of recourse against the transferee. Liability is triggered by the transferee’s failure to pay and should be limited by rules on liability period and content. This interpretation safeguards corporate capital and creditors without unduly restricting shareholder exit, achieving a balance among the multiple interests in company law.