ASPECTS REGARDING THE SHARE TRANSFER
ASPECTS REGARDING THE SHARE TRANSFER

Summary/Abstract: Throughout its content, the memorandum of association, even in the case of a limited liability company, stipulates the contribution of each shareholder to the share capital while the share capital is divided into shares, corresponding to the contribution of each shareholder to the share capital. The limited liability company is established in consideration of the people who set it up and as such, the share transfer is subject to certain conditions provided by law. Therefore, the law sets out strict conditions for share transfer in the case the transfer is done to one or more shareholders, but especially if the transfer is done to people outside the company, or following the inheritance. If the transfer is done to a shareholder, such is possible provided that this transfer has not been prohibited by the act of incorporation itself. Instead, the transfer to people outside the company cannot be done without the consent of shareholders representing at least three quarters of the capital. In case of share transfer by succession, the law allows it provided that this transfer is permitted within the memorandum of association.

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