(1) In cases of an investment in kind, directors shall request the court to appoint an inspector who is to inspect the particulars prescribed in subparagraph 4 of Article 416. In such cases, an appraisal by a certified appraiser may be conducted in lieu of the inspection by an inspector. <Amended by Act No. 5591, Dec. 28, 1998>
(2) In any of the following cases, the provisions of paragraph (1) shall not apply: <Newly Inserted by Act No. 10600, Apr. 14, 2011>
1. If the value of assets subject to an investment in kind under subparagraph 4 of Article 416 does not exceed one fifth of the capital and not exceed the amount determined by Presidential Decree;
2. If assets subject to an investment in kind under subparagraph 4 of Article 416 are securities having exchange quotation, in which case the price determined in accordance with the main body of Article 416 does not exceed the market value calculated by the method determined by Presidential Decree;
3. When a pecuniary claim which has become due against the company is to be contributed, in which case the value of the pecuniary claim does not exceed the value stated in the company's ledger;
4. Other cases determined by Presidential Decree, which are equivalent to those described in subparagarphs 1 through 3.
(3) If the court acknowledges the particulars mentioned in paragraph (1) to be improper after examining a report on investigation prepared by an inspector or the outcomes of appraisal conducted by an appraiser, it may make a necessary modification and inform directors and the person who has made the investment in kind, of such modification. <Amended by Act No. 5591, Dec. 28, 1998; Act No. 10600, Apr. 14, 2011>
(4) If a person who has made an investment in kind objects to the modification mentioned in the preceding paragraph, he/she may cancel his/her subscription to shares. <Amended by Act No. 10600, Apr. 14, 2011>
(5) If a person who has made an investment in kind does not cancel his/her subscription to shares within two weeks after the court informed him/her of alteration, the particulars mentioned in paragraph (1) shall be deemed to have been modified accordingly. <Amended by Act No. 5591, Dec. 28, 1998; Act No. 10600, Apr. 14, 2011>