SECTION 763-1

Shares, when they are not negotiable by virtue of articles 759 and 761 above, shall remain transferable. The transfer must be evidenced in writing. It shall be enforceable against the company only after the completion of one of the following formalities: 1) notification of the transfer to the company through a deed of a bailiff or notification by any means capable to prove actual receipt by the recipient; 2) acceptance of the transfer by the company recorded in an authentic deed; 3) delivery of an original transfer deed at the headquarters against a certificate of deposit issued by the chief financial officer, general manager or the general director. The transfer shall be enforceable against third parties only after the completion of one of the above formalities and publication in the registry of commerce and securities. Transfer of shares