!!!Offene Handelsgesellschaft, OHG

Offene Handelsgesellschaft, OHG, Austrian form of general partnership, 
according to Austrian commercial code 
(§105 Handelsgesetzbuch) a partnership concluded with the 
purpose of conducting a commercial business under a joint name. All 
members are liable without limitation. The OHG is not a legal entity 
separate of its members but has only restricted legal status. 
Management and signing authority are in the hands of all partners. 
Contractual limitations must be entered in the company registry 
(Firmenbuch). After payment of a preliminary dividend of 4 %, annual 
profits are distributed equally to the capital accounts of all 
partners. Independently of profits, the partners may withdraw up to 4% 
of their actual share of capital. Legal grounds for dissolution 
include end of duration, termination, death of a partner or other 
important reasons. In actual practice formal partnership agreements 
provide for many kinds of deviations from statute law.

!Literature
W. Kastner, P. Doralt and C. Novotny, Grundriss des 
oesterreichischen Gesellschaftsrechts, 1990.


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