(1) A company may register shares with the electronic registration ledger of an electronic registration authority (referring to the authority handling the affairs of electronic registration of securities, etc.; hereinafter the same shall apply) instead of issuing share certificates, as prescribed by the articles of incorporation. <Amended by Act No. 14096, Mar. 22, 2016>
(2) Transfer or pledge of shares registered with the electronic registration ledger shall become effective when the transfer or pledge is registered with the electronic registration ledger.
(3) A person who has registered shares with the electronic registration ledger shall be deemed to legitimately have the right to the registered shares, and the person who has relied on such electronic registration ledger in good faith and without gross negligence and thereby acquired the right pursuant to registration under paragraph (2) shall validly acquire such right.
(4) Matters necessary for the procedures, methods and effects of electronic registration, supervision of an electronic registration authority, and other matters on electronic registration of shares shall be separately prescribed by other Acts. <Amended by Act No. 14096, Mar. 22, 2016>[This Article Newly Inserted by Act No. 10600, Apr. 14, 2011]