§ 22 Liability of legal predecessors

(1) The last and each previous legal predecessor of an excluded shareholder who is deemed to be the owner, in relation to the company, of the share shall also be held liable for any unfulfilled obligation to pay capital contributions on the part of an excluded shareholder.

(2) An earlier legal predecessor shall be held liable only in so far as the payment cannot be redeemed from his legal successor; this is to be assumed to be the case until the opposite is proven if the latter has not made the payment by the end of one month after the request for payment having been sent to him and notification thereof having been sent to the legal predecessor.

(3) The legal predecessor’s liability shall be limited to payments called in within a period of five years on the basis of the obligation to pay capital contributions. The period begins to run on that day from which the legal successor is to be regarded as the owner of the share in the company.

(4) The legal predecessor acquires the excluded shareholder’s share against payment of the outstanding amount.