Distribution of profit shall be done in accordance with the Articles of Association, subject to
the mandatory provisions common to all companies.
Under penalty of annulment of all decisions to the contrary, at least one-tenth of the profits of
the fiscal year from which have been deducted past losses, where necessary, shall be deposited
in a reserve fund known as “legal reserve “. This appropriation shall cease to be obligatory when
the reserve attains one-fifth of the registered capital of the company.
Dividends not corresponding to real profits distributed to members may be recovered from them.
The action for recovery shall be barred at the end of a period of three years from the date of
commencement of distribution of the dividends.
Section 3
Ordinary collective decisions
Official translation
Spot-checked
In force from 17 April 1997
Source page 85