Korean Law in English
Laws › Commercial Act › SECTION 6 Liquidation

Commercial Act — Article 267 (Statute of Limitations for Members' Liability)

상법 제267조

This English translation is based on the Korean text effective 2018-12-19. The Korean law has since been amended (current version effective 2026-09-10) — check the Korean original.

(1) The statute of limitations for member's liability under Article 212 shall expire when five years have elapsed from the date of registration of dissolution at the place of the principal office.

(2) Even after the lapse of the period mentioned in the preceding paragraph, if there is residual property that has not been distributed, creditors of a company may request the repayment of obligations in respect of such residual property.

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