{"id":32197,"date":"2021-11-17T13:35:34","date_gmt":"2021-11-17T11:35:34","guid":{"rendered":"https:\/\/www.e2.law\/?p=32197"},"modified":"2021-11-18T07:52:25","modified_gmt":"2021-11-18T05:52:25","slug":"lusufruit-de-parts-sociales","status":"publish","type":"post","link":"https:\/\/www.e2.law\/fr\/2021\/11\/17\/lusufruit-de-parts-sociales\/","title":{"rendered":"L\u2019usufruit de parts sociales"},"content":{"rendered":"<p>Le droit de propri\u00e9t\u00e9 comporte deux composantes distinctes qui peuvent \u00eatre d\u00e9membr\u00e9es\u00a0:<\/p>\n<ul>\n<li>La nue-propri\u00e9t\u00e9, ou le droit de disposer de son bien, de le modifier ou de l\u2019ali\u00e9ner<\/li>\n<li>L\u2019usufruit, ou le droit d\u2019utiliser le bien et d\u2019en percevoir les revenus.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><strong>I. Qui exerce les droits li\u00e9s aux actions ?<\/strong><\/p>\n<p>Les articles 5:22 et 7\u00a0:26 du C.S.A pr\u00e9voient que l\u2019usufruitier de titres exerce tous les droits d\u2019associ\u00e9 attach\u00e9s \u00e0 ceux-ci, quel que soit l\u2019origine de l\u2019usufruit (l\u00e9gale ou conventionnelle). Ce r\u00e9gime est suppl\u00e9tif, il peut \u00eatre d\u00e9rog\u00e9 \u00e0 cette r\u00e8gle par statut ou convention (notamment par testament).<\/p>\n<table style=\"height: 990px;\" width=\"849\">\n<tbody>\n<tr>\n<td width=\"189\"><strong>\u00a0<\/strong><\/td>\n<td width=\"217\"><strong>Usufruitier<\/strong><\/td>\n<td width=\"198\"><strong>Nu-Propri\u00e9taire<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"189\"><strong>Assembl\u00e9e g\u00e9n\u00e9rale<\/strong><\/td>\n<td width=\"217\">Participation<\/p>\n<p>&amp;<\/p>\n<p>Vote<\/td>\n<td width=\"198\">Participation<\/td>\n<\/tr>\n<tr>\n<td width=\"189\"><strong>Distribution<\/strong><\/td>\n<td width=\"217\">L\u2019usufruitier per\u00e7oit tous les capitaux et produits financiers attach\u00e9s ou r\u00e9sultant d\u2019une action qui n\u2019affectent pas le capital, pour autant que la d\u00e9cision de l\u2019AG qui les fixe tombe en cours d\u2019usufruit.<\/td>\n<td width=\"198\">Si les dividendes font l\u2019objet d\u2019une d\u00e9cision apr\u00e8s la fin de l\u2019usufruit, ils reviennent au nu-propri\u00e9taire \u2013 sous r\u00e9serve des r\u00e8gles d\u2019indemnisation en cas d\u2019enrichissement sans cause du nu-propri\u00e9taire.<\/td>\n<\/tr>\n<tr>\n<td width=\"189\"><strong>Cession des actions<\/strong><\/td>\n<td width=\"217\">L\u2019usufruitier ne peut pas c\u00e9der les actions sans l\u2019accord du nu-propri\u00e9taire, mais il peut vendre son usufruit comme il le souhaite (sous r\u00e9serve des r\u00e8gles statutaires et contractuelles applicables en l\u2019esp\u00e8ce).<\/td>\n<td width=\"198\">Seule le nu-propri\u00e9taire peut vendre les actions<\/td>\n<\/tr>\n<tr>\n<td width=\"189\"><strong>Droit de souscription pr\u00e9f\u00e9rentielle, r\u00e9duction de capital, remboursement d\u2019apport, r\u00e8glement du boni de liquidation, rachat d\u2019actions propres<\/strong><\/td>\n<td width=\"217\"><\/td>\n<td width=\"198\">Les produits exceptionnels inh\u00e9rents aux actions ne sont pas consid\u00e9r\u00e9s comme des fruits\u00a0parce qu\u2019ils entament le capital, ils reviennent donc au nu-propri\u00e9taire.<\/p>\n<p>L\u2019usufruitier qui les encaisse devra les restituer au nu-propri\u00e9taire \u00e0 la fin de l\u2019usufruit.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p><strong>II. Formalit\u00e9s particuli\u00e8res<\/strong><\/p>\n<p>Le de\u0301membrement du droit de proprie\u0301te\u0301 doit e\u0302tre mentionne\u0301 dans le registre des parts de la soci\u00e9t\u00e9.<\/p>\n<p>Il est conseill\u00e9 que l\u2019usufruitier et le nu-proprie\u0301taire soient chacun mentionn\u00e9s sur une page distincte du registre pour \u00e9viter toute confusion.<\/p>\n<p>Dans la pratique, on rencontre \u00e9galement des \u00ab\u00a0certificats d\u2019usufruit\u00a0\u00bb. L\u2019usufruitier re\u00e7oit un certificat d\u2019usufruit, qui assure l\u2019exercice du droit de vote et le paiement des dividendes, et le nu-propri\u00e9taire re\u00e7oit un certificat de nue-proprie\u0301te\u0301. Les deux certificats peuvent \u00eatre transfe\u0301re\u0301s se\u0301pare\u0301ment.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Le droit de propri\u00e9t\u00e9 comporte deux composantes distinctes qui peuvent \u00eatre d\u00e9membr\u00e9es\u00a0: La nue-propri\u00e9t\u00e9, ou le droit de disposer de son bien, de le modifier ou de l\u2019ali\u00e9ner L\u2019usufruit, ou le droit d\u2019utiliser le bien et d\u2019en percevoir les revenus. &nbsp; I. Qui exerce les droits li\u00e9s aux actions ? Les articles 5:22 et 7\u00a0:26 du   [&#8230;]<\/p>\n","protected":false},"author":156,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[141],"tags":[],"class_list":["post-32197","post","type-post","status-publish","format-standard","hentry","category-non-classifiee"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>L\u2019usufruit de parts sociales - e2.law<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.e2.law\/fr\/2021\/11\/17\/lusufruit-de-parts-sociales\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"L\u2019usufruit de parts sociales - e2.law\" \/>\n<meta property=\"og:description\" content=\"Le droit de propri\u00e9t\u00e9 comporte deux composantes distinctes qui peuvent \u00eatre d\u00e9membr\u00e9es\u00a0: La nue-propri\u00e9t\u00e9, ou le droit de disposer de son bien, de le modifier ou de l\u2019ali\u00e9ner L\u2019usufruit, ou le droit d\u2019utiliser le bien et d\u2019en percevoir les revenus. &nbsp; I. Qui exerce les droits li\u00e9s aux actions ? 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Qui exerce les droits li\u00e9s aux actions ? 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