Laws › Commercial Act › Sub-Section 1 General Meeting of Shareholders

Commercial Act — Article 377 (Duty to Provide Security of Shareholder Filing Lawsuit)

상법 제377조

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) In cases of a shareholder filing a lawsuit for revocation of a resolution, the court may, upon request of the company, order him/her to provide an appropriate amount of security, unless he/she is a director or auditor of the company. <Amended by Act No. 3724, Apr. 10, 1984>

(2) The provisions of Article 176 (4) shall apply mutatis mutandis to requests made under paragraph (1). <Amended by Act No. 3724, Apr. 10, 1984>

Korean original (law.go.kr) · Get articles as JSON via API

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