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Commercial Act — Article 495 (Methods of Resolutions)

상법 제495조

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) The provisions of Article 434 shall apply mutatis mutandis to resolutions adopted by a meeting of bondholders.

(2) Any consent or request under Articles 481 through 483 and 494 may, notwithstanding the provisions of paragraph (1) above, be decided upon by a majority vote of the bondholders present. <Amended by Act No. 10600, Apr. 14, 2011>

(3) A bondholder not attending a meeting of bondholders may exercise his/her right to vote in writing. <Newly Inserted by Act No. 10600, Apr. 14, 2011>

(4) To exercise votes in writing, a bondholder shall submit a written application specifying required entries to the convocator of the meeting by no later than the day immediately preceding the date set for the meeting of bondholders. <Newly Inserted by Act No. 10600, Apr. 14, 2011>

(5) The number of voting rights exercised in writing pursuant to paragraph (4) shall be included in the number of votes present. <Newly Inserted by Act No. 10600, Apr. 14, 2011>

(6) The provisions of Article 368-4 shall apply mutatis mutandis to a meeting of bondholders. <Newly Inserted by Act No. 10600, Apr. 14, 2011>

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