of June 13, 1994 No. S-1073-1-ZR-103
About the sole (family) proprietor company
This Law establishes concept, conditions of creation, the choice of type of activity and the termination of the sole (family) proprietor company, its right, obligation and responsibility.
Such company which is property of one physical person is called individual.
Such company which belongs to family members by the right of joint property is called family.
The sole (family) proprietor company - the company which does not have the status of the legal entity.
In the Republic of Armenia citizens of the Republic of Armenia, foreign citizens, and also stateless persons can found the sole (family) proprietor company, the right to occupation economic activity of which is not limited to the legislation of the Republic of Armenia.
In the name of the sole (family) proprietor company the name of his owner (owners) shall be entered.
The owner (owners) of the sole (family) proprietor company cannot be at the same time the individual entrepreneur (entrepreneurs) or the owner (owners) of other sole (family) proprietor company, the member (members) of economic partnership with complete responsibility.
Activities of the sole (family) proprietor company are regulated by this Law, the Law of the Republic of Armenia "About the companies and business activity" and other legal acts of the Republic of Armenia.
If international treaties of the Republic of Armenia determine other rules, than those which contain in this Law, then in appropriate cases rules of international treaties are applied.
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The document ceased to be valid since January 1, 1999 according to the Law RA of June 17, 1998 No. ZR-229