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 has paid the capital share in full, shall have the right to be exempt 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 the 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 shall 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 shall be permissible only with the consent of the shareholder. The shareholder shall be 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 shall fall to the company. The company shall be 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.

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