How to exclude a deceased member from an LLC whose heirs are absent?

12.06.2019 160

From June 18, 2019, a new provision of the Law of Ukraine “On Limited and Additional Liability Companies” comes into force, which gives the Company the right to make a decision to exclude a deceased participant from the LLC.
Such exclusion is possible if 1.5 years have passed since the participant’s death, and during this period the heirs of the deceased participant have not submitted an application for admission to the Company.

This innovation of the Law of Ukraine “On Limited and Additional Liability Companies” will solve the long-standing dilemma of how to exclude a deceased participant whose heirs are absent.

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