ALTHOX

COLOMBIAN COMMERCIAL CODE Section II Subscription of shares Article 384 .- The subscription of shares is a contract whereby a person agrees to pay a contribution to society in accordance with relevant regulations and submit to their statutes. In turn, the company agrees to recognize the quality of shareholder and give the corresponding title. The subscription agreement may not agree on any provision that an outflow of capital subscribed or paid. Article 385 .- Shares not subscribed for in the act of constitution and the Company subsequently issued will be placed according to the rules of subscription. With the exception of preference shares and enjoy the absence of express statutory provision, the board shall adopt rules of procedure of subscription. Article 386 .- The share subscription rules contain: 1. The number of shares offered, which may not be less than those issued; 2. The proportion and how they can subscribe; 3. The ...

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...