Article NO. Content

Title:

Company Act 

Amended Date: 2025.12.26 (Articles 387-1, 449 amended,English version coming soon)
Current English version amended on 2021.12.29 
Article 66     In addition to the cases mentioned in the preceding article, every shareholder shall cease to be one under any of the following circumstances:
  1. The occurrence of a condition for withdrawal of shares stipulated in the Articles of Incorporation;
  2. Death;
  3. Bankruptcy;
  4. Adjudication of the commencement of guardianship or assistantship;
  5. Expulsion; and
  6. Compulsory execution of the shareholder's contribution to the capital by the court.
    Where a shareholder shall cease to be one under item 6 of the preceding Paragraph, the execution court shall notify the company and other shareholders two months in advance of the compulsory execution.

Relevant Laws: