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Commercial Act — Article 408-7 (Executive Directors' Request for Convening of Meetings of Board of Directors)

상법 제408조의7

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) An executive director may, if necessary, demand convocation of a meeting of the board of directors by filing with directors (in cases where there is a person eligible to convene the board, referring to such person; hereafter the same apply in this Article) a written request which states the subject matter of the meeting and the reasons for which it is to be convened.

(2) After making a demand under paragraph (1), if the directors fail to take procedures without delay to convene a meeting of the board of directors, the executive director who has requested the convocation may convene such meeting with the permission of the court. In such cases, the chairperson of the board of directors may be appointed by the court upon request of any interested person or ex officio.[This Article Newly Inserted by Act No. 10600, Apr. 14, 2011]

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