Close Ad
von Göler (Hrsg.) / / § 27

§ 27 Unlimited obligation to pay additional contributions

(1) If the obligation to pay an additional contribution is not limited to a specified amount, each shareholder, if he or she has paid the capital share in full, has the right to be exempted from payment of the additional contribution called in on the share by making the share available to the company within one month after the call to make the payment in order to satisfy the request to pay the additional contribution. Likewise, if shareholders have neither availed themselves of the above-mentioned power nor made the payment within the aforementioned period, the company may declare by registered letter that it regards the share to be at the company’s disposal.

(2) The company is to have the share sold at public auction within one month after the shareholder’s or the company’s declaration has been made. Any other form of sale is permissible only with the shareholder’s consent. The shareholder is entitled to any profits remaining after the costs of sale and the outstanding additional contribution have been covered.

(3) If the company cannot be satisfied by the sale, the share falls to the company. The company is authorised to sell the share for its own account.

(4) The articles of association may restrict the application of the foregoing provisions to cases where the additional payments called in on the share exceed a specific amount.

Information for non-professionals

To Information for legal professionals

Relevance for legal relations

Information for legal professionals

At this moment, a legal commentary is not yet available for this clause. We hope to help you by providing a translation of the wording of the law. Please contact us, if you would like to recommend a highly qualified author.