SECTION 346

The distribution of profits shall becarried 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 allocationequal to one-tenth at least deposited for the creation of a reserve fund known as “legal reserve”. Such allocationshall cease to be mandatory where the reserve reachesone-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 membersthat received them. P. 105 of 267 Actions for refundshall be time-barred after a period of three (3) years from the date of the distribution of the dividend. Ordinary collective decisions