Application of Bankruptcy System of Rural Collective Economic Organizations

Abstract

The Civil Code has established the special legal person civil subject status of rural collective economic organizations. Under the dual drive of reform and legislation, rural collective economic organizations are evolving towards market subjects, and the withdrawal mechanism of rural collective economic organizations should be constructed. The application of the bankruptcy system is an inevitable choice under the background of reaffirming the economic functions of rural collective economic organizations, and also meets the practical needs of rural collective economic organizations as special legal persons to withdraw from the market in an orderly manner. When applying the bankruptcy system, the conditions and subject of bankruptcy application of rural collective economic organizations should be clarified; Determine the responsible property, including but not limited to the usufructuary right used by members to exchange capital contributions for shares, and grant members the right to repurchase capital contributions; We will establish a simple bankruptcy procedure, a bankruptcy prevention system, a bankruptcy reorganization system and other supporting systems.