Lex Cameroon

Uniform Act relating to commercial companies and economic interest groups › Title 1 › Chapter 3

SECTION 409

The meeting shall reduce the value of noncash contributions or of special benefits only unanimously by the subscribers and with the express consent of the contributor or the beneficiary. The consent of the contributor or of the beneficiary shall be mentioned in the minutes where the value given the goods contributed or the special benefits provided for is different from the value adopted by the shares valuer. The shareholders and the directors or the managing director, as the case may be, shall be jointly liable vis-à-vis third parties for a period of five years for the value given the contributions and/or the special benefits.
Official translation Spot-checked In force from 17 April 1997 Source page 100

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Texte français

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Contents

Section 409 of the Uniform Act relating to commercial companies and economic interest groups /akn/ohada/act/loi/undated/auscgie-1997
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