The distribution of profits shall be carried out in accordance with the articles of association, subject to mandatory provisions common to all companies.
The dividend shall be instituted from the profits of the fiscal year minus, where appropriate, any prior year losses, an allocation equal to one-tenth at least deposited for the creation of a reserve fund known as “legal reserve”. Such allocation shall cease to be mandatory where the reserve reaches one-fifth of the amount of the stated capital. Any decision taken in violation of this paragraph shall be null.
The payment of dividends, not corresponding to profits actually earner, may be recovered from members that received them.
Actions for refund shall be time-barred after a period of three (3) years from the date of the distribution of the dividend.
Ordinary collective decisions
Unofficial translation
Transcription: Spot-checked
In force from 05-05-2014
Source page 99
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
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Section 346 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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