(1) If a person who has subscribed to new shares pays the subscription price or makes an investment in kind, he/she shall have the rights and obligations of a shareholder from the day immediately after the date set for the payment. In such cases, the latter part of Article 350 (3) shall apply mutatis mutandis. <Amended by Act No. 3724, Apr. 10, 1984; Act No. 5053, Dec. 29, 1995>
(2) If a person who has subscribed to new shares fails to pay the subscription price or makes an investment in kind on or before the date set for the payment, his/her right shall be forfeited.
(3) The provisions of paragraph (2) shall not affect any claim for damages against a person who has subscribed to new shares. <Amended by Act No. 3724, Apr. 10, 1984>