A corporate person may be appointed director. It shall, on its appointment, nominate, by hand-
delivered letter with acknowledgement of receipt or by registered letter with acknowledgement
of receipt addressed to the company, a permanent representative for its term of office. Although
the permanent representative so nominated is not personally a director of the company, he shall
be subject to the same conditions and obligations and shall incur the same civil and criminal
liabilities as if he were director in his own name, without prejudice to the joint and several
liability of the corporate person he represents.
A permanent representative may or may not be a shareholder of the company.
Official translation
Spot-checked
In force from 17 April 1997
Source page 103