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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.