ALTHOX

PART ONE WATER NAVIGATION General Provisions Section 1429 .- It is considered all the maritime activities that take place in the territorial sea areas adjacent soil and subsoil belong to the continental shelf and on the coasts and ports of the Republic, relating to shipping, coastal shipping, fishing and scientific, with domestic and foreign vessels, or research and resource extraction the sea and the platform. Section 1430 .- The National Maritime Authority shall consist of the Merchant Marine and its various agencies, which will exercise its functions and powers in ports and territorial waters in terms of monitoring, control and compliance related maritime activities. The maritime authority in each of the Colombian ports is exercised by the respective port captain or his times. Other public servants exercising different functions in sea and river ports, should work with the maritime authority in a collision and decide the port captain. Sec...

COLOMBIAN COMMERCIAL CODE Section II Life insurance Section 1151 .- When the insured fails to pay the first premium or first installment thereof, may not be the insurer legally require payment, but shall be entitled to be reimbursed for expenses incurred for the holding of the contract. Section 1152 .- Except as provided in the following article, nonpayment of premiums within the month following the date of each maturity, cause the termination of the contract the insurer has no right to demand. Section 1153 .- Life insurance need not be terminated once the premiums have been covered for the first two years of his life, but when the value of the overdue premiums and loans made with interest, exceed the value of assignment or Rescue referred to the article below. Section 1154 .- Without prejudice to the compensation that may be applicable, credit the beneficiary against the insurer, life insurance in order of preference will be assigned to first-class ...

COLOMBIAN COMMERCIAL CODE Section II  Promissory note Article 709 .- The promissory note contains, in addition to the requirements of Article 621, the following: 1. Unconditional promise to pay a sum of money determinant; 2. The name of the person to be made ​​the payment; 3. Indication of being payable to order or to bearer, and 4. The way to maturity. Article 710 .- The subscriber will pay equates to accepting a bill of exchange. Article  711 shall apply to pay as applicable, the provisions relating to the draft.

COLOMBIAN COMMERCIAL CODE Subsection II Acceptance Article 680 .- Points due to a certain day after the hearing must be submitted for acceptance within the year following its date, unless the drawer extends that time limit or prohibit its presentation before a certain time. Either shorten the period required and consigning them to the letter. Article 681 .- The presentation for the acceptance of bills drawn on a certain day after the date will be facultative, but the spinner tells you to in the title, you can make it mandatory and signal a time for it to do. The drawer may also prohibit the presentation before a certain time, if I state so in the letter. When authority is presentation of the bill, the holder may make more than the last business day prior to maturity. Article 682 .- The letter must be presented for acceptance at the designated location and address on it. In the absence of indication, the presentation will be made in the establishme...

COLOMBIAN COMMERCIAL CODE CHAPTER III Titles to the orderlyn Article 651 .- The securities issued in favor of a particular person, which add the clause "to order" or states that are transferable by endorsement, or say they are negotiable, or indicate their specific denomination of securities will be the order and transmitted by endorsement and delivery of title, without prejudice to Article 648. Article 652 .- The transfer of title to order through various endorsement, the purchaser subrogated to all rights conferred the title, but subject to all defenses that could have been opposed to alienating. Article 653 .- Who warrants that he has transferred title to order by means other than endorsement, the judge may require in the way of voluntary jurisdiction stating the title transfer or a sheet attached to it. The record that put the judge in the title, will as an endorsement. Article 654 .- The endorsement may be blank, with the sole signatu...

COLOMBIAN COMMERCIAL CODE TITLE III OF SECURITIES CHAPTER I Overview Article 619 .- The securities are necessary documents to legitimize the right literal and autonomous that they incorporated. Content can be credit, corporate or partnership. And tradition or representative of goods. Article 620 .- The documents and the acts referred to in this title shall only have effects on the terms provided they contain and meet the requirements established by law, unless she presumed. The omission of such terms and conditions does not affect the legal transaction that gave rise to the document or act. Article 621 .- In addition to the provisions for each securities in particular, the securities must meet the  following requirements: 1. The mention of the right in the title it is incorporated 2. The firm who creates it. The signature may be replaced under the responsibility of the creator of the title, a sign or password that can be mechanically impo...

COLOMBIAN COMMERCIAL CODE Section II Trademarks and service Article 584 .- Surrogate. Decision 344 of 1993. Article 585 .- Surrogate. Decision 344 of 1993. Article 586 .- Surrogate. Decision 344 of 1993. Article 587 .- Surrogate. Decision 344 of 1993. Article 588 .- Surrogate. Decision 344 of 1993. Article 589 .- Surrogate. Decision 344 of 1993. Article 590 .- Surrogate. Decision 344 of 1993. Article 591 .- Surrogate. Decision 344 of 1993. Article 592 .- Surrogate. Decision 344 of 1993. Article 593 .- Surrogate. Decision 344 of 1993. Article 594 .- The license agreement will contain provisions that ensure the quality of the products or services produced by the licensee. The trademark holder that exercised effective control over quality and shall be jointly liable to third parties for damages caused. At the request of any person or office, the office in charge of quality control standards and take appropriate ...

COLOMBIAN COMMERCIAL CODE TITLE VIII OF FOREIGN COMPANIES Article 469 .- Are foreign companies incorporated under the law of another country with its headquarters abroad. Article 470 .- All branches of foreign companies to develop ongoing activities in Colombia are subject to the supervision of the State, to be exercised by the Banking Superintendency of Companies or, according to his purpose. Article 471 .- For a foreign company can undertake permanent business in Colombia, established a branch established in the country, for which they meet the following requirements: 1. Recorded on a notice of the place chosen for his residence in the country, certified copies of its founding document, its bylaws, resolution or act agreed to its establishment in Colombia and proving the existence of society and the personality of their representatives, and 2. Get the Superintendency of Companies or Banks, as appropriate, permission to operate in the country. Artic...

COLOMBIAN COMMERCIAL CODE CHAPTER V  Dissolution and liquidation of the corporation Article 457 .- The corporation shall be dissolved: 1. On the grounds specified in Article 218; 2. When losses occur which reduce the net worth under fifty percent of the subscribed capital, and 3. When ninety-five percent or more of the outstanding shares come to belong to a single shareholder. Article 458 .- When verify the indicated losses in the ordinal 2nd. the previous article, the administrators shall refrain from initiating new business and immediately convene the general assembly, complete and documented to inform them of this situation. Violation of this rule will jointly hold administrators accountable for the damages caused to shareholders and third parties for the transactions after the date of the check or losses referred to their attention. Article 459 .- The Assembly may take or order measures for the restoration of herita...

COLOMBIAN COMMERCIAL CODE Section III Legal Representative Article 440 .- The corporation shall have at least one legal representative, with one or more alternates, appointed by the Board for specified periods, who may be reelected indefinitely or removed at any time. The statutes may defer this appointment to the assembly. Article 441 .- In the commercial register will record the appointment of legal representatives by copying the relevant part of the minutes of the board or assembly, if necessary, once approved and signed by the president and secretary or failing that, by the auditor. Article 442 .- The persons whose names are entered in the relevant commercial register as senior managers and alternates will represent the society for all legal purposes, while not cancel your registration by registering a new appointment. Article 443 .- Repealed. Act 222 of 1995, Section 242. Article 444 .- The provisions of this chapter shall apply, as ap...

COLOMBIAN COMMERCIAL CODE CHAPTER II The shares in the corporation Section I Issue of shares Article 377 .- The shares may be nominative or bearer shares, but shall be registered until it is paid in full. Article 378 .- The shares will indicate visible and, therefore, if for any legal or conventional cause an action belongs to several persons, they should appoint a joint representative and the only exercise the rights corresponding to a shareholder. Failing agreement, the judge of the registered office shall appoint the representative of such actions at the request of any interested party. The executor will represent ownership of property belonging to the shares illiquid succession.As several executors shall designate a single representative, unless one of them has been authorized by the judge to that effect.In the absence of an executor, the representation will choose the person who by majority vote successors recognized in the trial. Ar...