(1) Directors and auditors shall, without delay after their appointment, investigate whether or not all matters concerning the incorporation of the company were done in compliance with statutes and the articles of incorporation, and report the outcomes thereof to incorporators.
(2) Neither director nor auditor who was an incorporator, investor in kind or party to a contract whereby the company is to take over assets after its incorporation shall participate in the investigations and reporting under paragraph (1).
(3) If all directors and auditors fall under paragraph (2), the directors shall require a notary public to perform the investigation and reporting under paragraph (1).
(4) In cases where the articles of incorporation provide for the matters listed in the subparagraphs of Article 290, the directors shall request a court to appoint an inspector for the purpose of investigating such matter: Provided, That this shall not apply to cases falling under Article 299-2.[This Article Wholly Amended by Act No. 5053, Dec. 29, 1995]