The Parliament of Montenegro declared independence from the State Union of Serbia and Montenegro in 2006, in 2008, Montenegro applied for EU membership. The underlying Stabilisation and Association Agree-ment between the EU and Montenegro has been signed on 15 October 2007 and entered into force on 1 May 2010. In the same year, the EU Commission has issued a positive opinion on Montenegro's application for EU membership of 2006, and the Council of the European Union granted the candidate status to Montenegro. The Montenegrin "Busi-ness Organisation Law" (Official Gazette 06/02 of 8 February 2002) has been adopted by the Parliament of the Republic of Montenegro at the sitting of the first extraordinary session in 2002, held on 29 January 2002, it has been subject to several amendments (Official Gazette 17/07 of 31 December 2007, 80/08 of 26 December 2008, 40/10 of 22 July 2010, 36/11 of 27 July 2011). Main aim of these amendments has been to align the company law to EU legislation. Present commentary reflects the legal status as of 1 September 2013.