(1) Where incorporators subscribe to the total number of shares to be issued at the time of incorporation, they shall without delay make full payment of the subscription price. In such cases, they shall designate a bank or other financial institutions at which the subscription price is to be paid as well as the place for payment. <Amended by Act No. 5053, Dec. 29, 1995>
(2) An incorporator who is to make an investment in kind shall, without delay, provide all of the asset which is the subject matter of the investment on the date designated for the payment of the subscription price, and if registration, records, or the creation or transfer of rights is required, he/she shall prepare completely the relevant documents and deliver them to the company.