The distinction is not insignificant and sometimes

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III. In limited liability companies , contrary to what has been maintained, even in the Courts, there is solidarity among the shareholders , as they are all jointly and severally obliged to fully pay up the share capital and, in a certain way, to fully preserve this capital, which cannot be depleted by payments made to the partners (art. 9 of law no. 3,708, of 1919).

In limited liability companies, the limited liability of the partner to the total share capital and the restitution of withdrawals by partners who have embezzled this capital is combined with the idea of ​​solidarity (JÚLIO SANTOS FILHO, “Sociedade Limitada”, thesis, Rio, 1955, pages 30-31).

The distinction is not insignificant and sometimes has very serious repercussions on the economy of companies, as is sufficient to mention what happened with the law on the taxation of extraordinary profits, which bulk sms nepal packages required that amounts representing the assets of joint and several partners be counted as investment capital in the company. The enforcers of this law, in the administrative jurisdiction, denied the status of “joint and several” partners to the shareholders. And the controversy reached the Federal Court of Appeals, dividing the opinion of the distinguished judges who sit on that distinguished Court.

IV. The limited liability company, as structured by Law No. 3,708 of 1919, is a mixture of a partnership and a capital company.

The modern guideline is to lean towards one of these two forms, to avoid the confusion that art. 18 of law no. 3,708 has created, by enabling the application of legislation on corporations, when the Articles of Association or the articles of association are silent.