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Laws › Commercial Act › SECTION 4 Issuance of New Shares

Commercial Act — Article 431 (Effects of Judgments Nullifying Issuance of New Shares)

상법 제431조

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) When a judgment nullifying issuance of new shares becomes final and conclusive, such new shares shall be invalidated in the future.

(2) In cases falling under the preceding paragraph, the company shall without delay give a public notice to the effect that certificates of new shares must be submitted to the company within a fixed period and shall separately notify each shareholder and pledgee recorded in the register of shareholders of the same: Provided, That such period shall exceed three months.

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