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Commercial Act — Article 287-37 (Distribution of Surplus)

상법 제287조의37

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) A limited liability company may distribute a surplus within the limit of the amount obtained by subtracting the amount of capital from the amount of net asset value on the balance sheet (hereafter referred to as "surplus" in this Article).

(2) In cases where a surplus is distributed in violation of paragraph (1), a creditor of a limited liability company may claim that the person who has received the surplus return it to the limited liability company.

(3) Lawsuits concerning the claim under paragraph (2) shall be subject to the exclusive jurisdiction of the district court governing the place of the principal office of the limited liability company.

(4) A surplus shall be distributed in proportion to the amount of investment made by each member, unless otherwise provided for by the articles of incorporation.

(5) The method for claiming distribution of a surplus or other matters concerning the distribution of surplus may be determined by the articles of incorporation.

(6) A seizure upon equity interest of a member shall be further effective with respect to his/her right to claim for distribution of a surplus.[This Article Newly Inserted by Act No. 10600, Apr. 14, 2011]

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