The President of Uzbekistan has signed a new version of the Law “On Limited Liability Companies” (No. PZ–1137, April 21, 2026), developed by the Ministry of Justice. The law will come into force three months after its official publication.

The document introduces a modern corporate governance system, eliminates legal gaps, and strengthens guarantees for LLC participants. It consists of 71 articles and was drafted with input from domestic and foreign experts, as well as best practices from advanced countries.

Key innovations include the introduction of fiduciary duties — legally binding relationships where one party (the fiduciary) must act solely in the interest of another party (the beneficiary), prioritizing their interests above their own.

Additionally, the powers of the supervisory board have been expanded, and the list of activities that can be carried out without a license has been broadened. The new law aims to enhance transparency and efficiency in LLC management.

Source: kun.uz