Research on the Equity Bona Fide Acquisition of Limited Liability Company Abstract In 2011, the Supreme People's Court issued The Third Explanation on Several Issues of Application of Company Law, establishing Equity Bona Fide Acquisition (BFA) of limited liability company. The system of bona fide acquisition is one of the special ways of obtaining ownership, which plays an important role in protecting the legal rights of the bona fide third party and safeguarding the security of commercial transactions. Equity bona fide acquisition system of limited liability company is a breakthrough of the traditional system before, must consider whether the equity can use the system and how to apply the bona fide acquisition system. In the first chapter, through the analysis of judicial interpretation and the case of the Supreme People's court, the author puts forward some possible problems in the system of bona fide acquisition. The second chapter mainly discusses the nature of the equity, whether the equity is applicable to the system of bona fide acquisition. The third chapter analyzes the most important elements of the system of bona fide acquisition: the right to dispose and the foundation of the appearance of the right. Whether or not the name of the shareholders is entitled to unauthorized disposition is questionable, to discuss a two to sell the right to dispose of the need to clarify the pattern of changes in equity. At present, the register of shareholders and the registration of shareholders do not have the effect of the appearance of the right. The fourth chapter of the bona fide acquisition system with reference to Germany, German law through the 2008 reconstruction of the register of shareholders has the right appearance function, and the establishment of objection registration system to help third people aware of the company's equity status, through the attribution of real rights and balancing the interests of bona fide third. The limited liability company applies to the bona fide acquisition system the practice and development of the legislation on the response, at present in our country the bona fide acquisition system only provides reference for the real right system of bona fide acquisition, either in legislation or in practice are controversial. This paper aims to sort out the existing problems in the system, and provide a new idea for the evening of good faith acquisition. Keywords: Equity Bona Fide Acquisition, Equity nature, Unauthorized disposition, Right appearance, Imputation

有限责任公司股权转让善意取得制度研究 摘要 2011 年最高人民法院出台《公司法司法解释（三）》，正式确立有限责任公司 股权善意取得制度。善意取得制度是所有权的特别取得方式之一，该制度对于保护善意第三人的合法权利，维护商事交易安全有重要作用。有限责任公司股权善 意取得制度是对传统善意取得制度的突破，必须要思考股权能否类推适用善意取得制度以及如何适用善意取得制度。 第一章通过对《司法解释（三）》和最高人民法院案例分析，提出股权善意取得制度可能存在的问题。第二章主要探讨股权的性质，股权适用善意取得制度， 股权的性质是必须要思考的问题。第三章从善意取得制度出发，分析其最重要构成要件：无权处分和可信赖的权利外观基础。名义股东擅自股权是否属于无权处分值得商榷，讨论股权两次转让的无权处分必须先厘清股权的变动模式，股东名册和股东登记都不具备充当权利外观的效力。第四章参考德国股权善意取得制度， 德国法对股东名册进行改造使其具有权利外观的功能，并设立异议登记制度帮助第三人知悉公司股权状况，通过可归责性平衡真实权利人和善意第三人利益。 有限责任公司适用股权善意取得制度是立法对实践发展的回应，我国目前的股权善意取得制度仅规定参照适用物权善意取得制度，无论是在立法上还是实践 上都存在很大的争议。本文旨在梳理目前制度中存在的不足，为股权善意取得的完善提供新的思路。 关键词：股权善意取得，股权性质，无权处分，权利外观，可归责性