SECTION 251

Action for nullity of the company shall lapse after three years following registration of the company or publication of the instrument amending its Articles of Association unless the nullity is based on the illegality of the company’s object, subject to the forfeiture referred to in Article 248 of this Uniform Act. An action for annulment of the acts, decisions or deliberations of the company shall be barred after three years with effect from the day on which the cause of the nullity arose, except where the nullity is based on the illegality of the object of the company and subject to the forfeiture referred to in Article 248 of this Uniform Act. However, action for annulment of a merger or a scission shall lapse after six months from the date of the last entry in the Trade and Personal Property Rights Register necessitated by the merger or division transaction.