Comparative law notes
The characteristics of a public limited company are set forth in the Hungarian Civil Code (§ 3: 210 - § 3: 323) and are as follows: 1. an enterprise; 2. that operates with a share capital the number and nominal value of which are predetermined; 3. the shareholder's liability to the public limited company is limited to the nominal value or the issue value of the shares; 4. the shareholders, unless otherwise provided in this Act, have no liability for the obligations of the limited company (other than the loss of their investment); 5. According to Hungarian law, the share capital may not be less than HUF 20 million in the case of a public foundation. The cash contribution is at least 30% and at least HUF 5 million.
