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von Göler (Hrsg.) / / § 18

§ 18 Joint ownership of share

(1) If several joint owners are entitled to one undivided share, they may exercise the rights arising from that share only jointly.

(2) They are jointly and severally liable vis-à-vis the company for the payments to be effected against the share.

(3) Legal acts which the company must perform vis-à-vis the owner of the share are, insofar as there is no joint representative for the joint owners, also effective if they are only performed vis-à-vis one of the joint owners. This provision applies to several inheritors of a shareholder only in relation to legal acts performed after one month has elapsed since devolution of the inheritance.

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