SECTION 822-14

Holders of securities giving deferred access to capital, after detachment, if applicable, of rights of the original securities pursuant to this chapter, shall be grouped automatically for the defense of their common interests in a group that enjoys civil personality and shall be subject to the provisions identical to those which are set forth in articles 786 to 814 above. A separate group shall be formed, if applicable, for each class of securities giving the same rights. The general meetings of holders of such securities shall be called to authorize all amendments to the issue agreement and rule on any decision relating to the conditions of subscription or allotment of capital securities determined at issue. Each security giving access to capital shall carry one voting right. The conditions for quorum and majority are those set in articles 552 to 554 above. Meetings costs as well as, generally, all expenses related to the operation of different groups shall be borne by the company called to issue or allot new securities representative of its stated capital. When securities issued pursuant to this section are bonds intended to be converted or redeemed into capital securities, redeemed or exchanged against capital securities, the provisions of the second, third and fourth paragraphs of this article are applicable to the group formed in accordance with the second sentence of article 785 above.