Colombian Commercial Code - Decree 410 of 1971 - Book II - Of Corporations - Part I - Partnership Agreement - Chapter IV - Utility Companies - Article 157 to Article 149
COLOMBIAN COMMERCIAL CODE CHAPTER IV Social Utilities Article 149 .- On social capital may be agreed only interest for the time needed for preparation of the company until the start of the exploitation of it. Article 150 .- The social distribution of profits shall be in proportion to the paid portion of the nominal value of shares, or shares of interest of each partner, if the contract is not valid otherwise planned. The contract provisions that deprive them of any participation in profits among the partners are deemed to be unwritten, despite its acceptance by the partners concerned with them. Paragraph .- In the absence of express provision of the contract, the only contribution of industry without estimating its value will be entitled to a share equivalent to the greater contribution of capital. Article 151 .- May not be distributed any amount on account of profits if they are not justified by real balances and reliable. Amounts distri...