(1) Within two weeks after the date of the resolution for a merger, the company shall make public notice to the effect that the company's creditors with objections to the merger, if any, submit such objections within a specified period of time and shall give peremptory notice to respective creditors known to the company. In such cases, the said period shall not be less than one month. <Amended by Act No. 3724, Apr. 10, 1984; Act No. 5591, Dec. 28, 1998>
(2) A creditor who fails to raise an objection within the period set in paragraph (1) shall be deemed to have approved the merger. <Amended by Act No. 3724, Apr. 10, 1984>
(3) If a creditor has raised an objection, the company shall make repayment to the creditor or furnish adequate security, or entrust assets of reasonable value to a trust company for the purpose of repaying the creditor.