Colombian Commercial Code - Chapter VI - Transformation and fusion of the companies - Section I - Transformation

COMMERCIAL CODE OF COLOMBIA

CHAPTER VI

Transformation and fusion of the companies

Section I

Transformation

Article 167 .- A society may, before its dissolution, adopt any other forms of commercial society governed by this Code, through reform of the social contract.

The transformation will not produce a solution of continuity in the existence of society as a legal entity or its activities or its assets.

Article 168 .- Repealed. Act 222 of 1995, Article 12.

Article 169 .- If by virtue of the transformation The responsibilities of the partners towards third parties, the amendment does not affect the obligations of the company prior to the registration agreement transformation in the commercial register.

Article 170 .- In the deed of conversion must insert a balance sheet as a basis for determining the capital of the transformed society, approved by the assembly or the board of trustees and authorized by a public accountant.

Article 171 .- To be valid the transformation will be necessary for society to meet the requirements of this Code for the new form of society.