This form of company is one of the most rarely encountered in Romania, and it is characterized in particular by the fact that the shareholders are liable only within the limit of their contribution to the subscribed share capital, and the corporate obligations are guaranteed with its capital assets. In the older legislation in Romania, it was also known as “public limited liability company”, a name that currently exists in the legislation of other states.
The joint stock company functions like any democratic body, where the decisions within the company are taken based on a general meeting, which includes censors and shareholders.
The difference between an Ltd. / D.Ltd. and a Joint Stock Company is the method of administration.