Lex Cameroon

Acte uniforme révisé relatif au droit des sociétés commerciales et du groupement d'intérêt économique › Book 4 › Title 1 › Chapter 3

SECTION 507

Under penalty of invalidity of the agreement, the general director or the deputy general director, when one wasappointed, as well astheir spouses, ascendants or descendants and intermediaries, are prohibited from contracting, in any form whatsoever, loans from the company, being grantedan overdraft on a current account or otherwise, or to have the company provide guarantee or secure their commitments to third parties. However, when the company is a banking or financial institution, it may grant its general director or its deputy general director, in any form whatsoever, a loan, an overdraft on a checking account or otherwise, an endorsement, a suretyship or other guarantee, if these agreements pertain toroutine transactions carried outin the ordinary course of business. Absence and removal of the generaldirector
Unofficial translation Machine-parsed In force from 8 September 2026 Source page 144

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Texte français

This provision has no official French version. You can read an unofficial machine translation — for understanding only, never to quote.

Contents

Section 507 of the Acte uniforme révisé relatif au droit des sociétés commerciales et du groupement d'intérêt économique /akn/ohada/act/loi/undated/auscgie-2014
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