Contractual right of farmland which has been pooled into limited liability company constitutes company’s liability property for the creditors,but now it also bears the actual security function for the farmer shareholders.The feature of liability property and de facto security function constitute obvious tensions,which results in the conflicts of interests between farmer shareholders and creditors.Therefore,this paper discusses their conflicts of interests in establishment phase,operation phase,liquidation phase respectively and their solutions.As for the conflicts of interests in the liquidation phase,based on the analysis of advantages and disadvantages of various doctrines,this paper puts forward solutions of preemptive and pooling insurance.