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Commercial Act — Article 478 (Issuance of Bond Certificates)

상법 제478조

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) No certificate may be issued for a bond until its full amount has been paid up.

(2) Each bond certificate shall contain the following particulars and the representative director shall write his/her name and affix his/her seal, or shall affix his/her signature, thereon: <Amended by Act No. 1212, Dec. 12, 1962; Act No. 5053, Dec. 29, 1995; Act No. 10600, Apr. 14, 2011>

1. The serial number of each bond;

2. Matters listed in Article 474 (2) 1, 4, 5, 7, 8, 10, 13, 13-2, and 13-3.

(3) Instead of issuing bonds under paragraph (1), a company may register bonds in the electronic registration ledger of an electronic registration agency, as prescribed by the articles of incorporation of the company. In such cases, the provisions of Article 356-2 (2) through (4) shall apply mutatis mutandis. <Newly Inserted by Act No. 10600, Apr. 14, 2011>

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