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Commercial Act — Article 287-30 (Refund of Equity Interest of Withdrawn Members and Creditors' Interests)

상법 제287조의30

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(1) In cases where the amount of a refund to a withdrawn member exceeds the surplus under Article 287-37, a creditor of the limited liability company may raise an objection to the company with regard to such refund.

(2) With respect to an objection under paragraph (1), the provisions of Article 232 shall apply mutatis mutandis: Provided, That the provisions of Article 232 (3) shall not apply mutatis mutandis where there is no concern about inflicting loss or damage to the creditor regardless of the refund of equity interest.[This Article Newly Inserted by Act No. 10600, Apr. 14, 2011]

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