Colombian Commercial Code - Decree 410 of 1971 - Book II - Of Corporations - Title VI - Company - Chapter II - Shares in the Company - Section IV - Titles Action - From: Section 399 to: Article 402
COLOMBIAN COMMERCIAL CODE
Section IV
Stock certificates
While the company does not have the permission of operation and may issue stock certificates.
Within
thirty days from the date of the operation permit shall be issued
diplomas or certificates for shares subscribed in the constitutive act,
the character of interim or final, as appropriate. In other
subscriptions the visa is issued within thirty days from the date of the
respective contract.
When they go into kind contributions, once verified delivery for award of the degree.
Article 400 .-
While the value of shares is not covered in full, provisional
certificates shall be issued only to subscribers. The transfer of the
certificates will be subject to the conditions outlined in the statutes,
and the amount unpaid, assignors and assignees jointly and severally
liable.
Fully paid shares will change the final titles for provisional licenses.
Article 401 .-
Certificates shall be issued in continuous series, with the signatures
of the legal representative and secretary, and they indicate:
1.
The name of the company, its principal place of residence, the notice
number and date of incorporation, and the resolution authorizing the
Superintendent of operation;
2.
The number of shares represented at each title, their nominal value, if
ordinary, preference or industry, if your business is restricted by the
preferential right and the conditions for their exercise;
3. If you are registered, the name of the person on whose behalf they are issued, and
4. On the back of securities consist of preference shares the rights attached to them.
Article 402 .-
In cases of theft of a registered securities, the company will replace
the owner provide duplicate appears registered in the share register,
checking the incident to administrators, and in any case, presenting an
authentic copy of the appropriate criminal charges .
When the shareholder requesting a duplicate title for loss, will guarantee that requires the board.
In
case of damage, the duplicate has been issued will require the delivery
by the shareholder of the original titles for the annulment of that
society.
Bearer will only be replaceable if damaged.
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