Colombian Commercial Code - Decree 410 of 1971 - Book II - Of Corporations - Title VI - Company - Chapter II - Shares in the Company - Section II - Subscription of Shares - Article 384 Of The Art 397
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 ...