A private limited company may be transformed into another type of company.
The transformation shall not give rise to a new corporate person.
The private limited company may not be effectively transformed unless, at the time of the
proposed transformation it has shareholders’ equity at least equal to its registered capital and it
has drawn up the balance-sheets for its first two fiscal years and these have been approved by
the members.
Official translation
Spot-checked
In force from 17 April 1997
Source page 92