Resignation and expulsion at the limited liability company

With the Turkish Commercial Code numbered 6102, the right to withdraw from the company and dismissal of a partner from the company have been adopted extensionally. In the abrogated Commercial Code, the right of withdraw from the company was subjected to the provision in the contract or just causes and the right of dismissal of a partner from the company was subjected to the contract and the event of default regarding the payment of the capital commitment. However, the Turkish Commercial Code numbered 6102 has allowed the partners to withdraw from the partnership in case of merger of corporations providing participation in the withdrawal. In addition to the event of just causes, it has been also regulated in the new code that dismissal of a partner from the company would be possible under the contractual conditions, termination with just cause and in the case of merger of corporations and group of corporations. This article examines i) the right to withdraw and the types of withdrawal in the first part, ii) the term of dismissal and types of dismissal in the second part and iii) finally the consequences of the withdrawal from the company and dismissal of a partner from the company and indemnity for exclusion in the third part. Keywords: Limited Liability Company, Resignation, Expulsion, İndemnity for Exclusion.