The Federal Law "On Joint Stock Companies" defines the procedure for the establishment and legal status of joint stock companies, the rights and obligations of their shareholders, and also ensures the protection of the rights and interests of shareholders.

The federal law applies to all joint stock companies created or created on the territory of the Russian Federation. The specifics of the creation and legal status of joint stock companies in the areas of banking, investment and insurance are determined by federal laws.

According to the law, a joint-stock company is a commercial organization, the authorized capital of which is divided into a certain number of shares, certifying the obligations of the company's members (shareholders) in relation to the company.

The supreme governing body of the company is the general meeting of shareholders, the general management of the company is carried out by the board of directors (supervisory board). The control over the financial and economic activities of the company is carried out by the audit commission or the auditor of the company.

A procedure has been established for the creation and liquidation of joint-stock companies, the formation of the authorized capital of these companies, the placement of shares and other securities.

The relations between the joint-stock company and its shareholders have been settled.