|Company Act Article 66Aug. 1, 2018|
In addition to the cases mentioned in the preceding article, every shareholder shall cease to be one under any of the following circumstances:
1. The occurrence of a condition for withdrawal of shares stipulated in the Articles of Incorporation;
Where a shareholder shall cease to be one under item 6 of the preceding Paragraph, the execution court shall notify the company and other shareholders two months in advance of the compulsory execution.
|Company Act Article 65Aug. 1, 2018|
In case the continuance of existence of a company is not specified in its Articles of Incorporation, and except that the rules for withdrawal of share capital are otherwise established, any shareholder of the company may withdraw his/her share capital upon close of each fiscal year, provided that a six-month prior notice of such intent in writing shall be given to the company.
A shareholder may, upon occurrence of a significant cause not attributable to him/her, withdraw his/her share capital at any time, regardless whether or not the continuance of existence of the company has been specified in its Articles of Incorporation.
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Provided by Kingdoms Law