(1) A resolution provided for in Article 434 shall be required for a company to engage in any of the following activities: <Amended by Act No. 10600, Apr. 14, 2011>
1. A transfer of the whole or a substantial part of the business of the company;
2. The conclusion, alteration or rescission of a contract for lease of the whole business, entrusting the operations thereof, or for sharing with another person the entire profits and losses from the business or of a similar contract;
3. The acquisition of the whole or any part of business of another company which significantly affects the business of the company;(2) When a company gives a notice of convocation of a general meeting of shareholders in relation to an activity prescribed in paragraph (1), it shall specify the details and the methods of exercising appraisal rights under the provisions of Article 374-2 (1) and (2) in the notice. <Newly Inserted Act No. 5053, Dec. 29, 1995; Act No. 12591, May 20, 2014>