Withdrawal of funds from subscriptions paid in cash may occur only after the registration of the company with the registry of commerce and securities. It shall be carried out, as the case may be, by the chief executive officer, the general manager or any company representative upon presentation to the depositary of the clerk or the competent authority’s certificate attesting that registration of the company with the registry of commerce and securities.
Any subscriber, six (6) months after payment of funds, may seek an order through summary hearing to the competent court for the appointment of a director in charge of withdrawing the funds to return them to subscribers, subject to deduction of the costs of distribution, if, on that date, the company is not registered.
Unofficial translation
Transcription: Spot-checked
In force from 05-05-2014
Source page 223
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
How Lex Cameroon marks its texts →
Section 827-12 of the Acte uniforme révisé relatif au droit des sociétés commerciales et du groupement d'intérêt économique/akn/ohada/act/loi/2014-01-30/auscgie-2014
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