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Commercial Act — Article 534 (Submission, Audit, Disclosure, and Approval of Balance Sheets, Business Reports, and Supplementary Statements)

상법 제534조

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) A liquidator shall prepare a balance sheet, supplementary schedules, and a business report four weeks prior to the date set for an ordinary general meeting of shareholders and submit them to an auditor.

(2) An auditor shall submit to a liquidator an audit report on the documents listed in paragraph (1) one week prior to the date set for an ordinary general meeting of shareholders.

(3) A liquidator shall retain the documents listed in paragraph (1) and the audit report mentioned in paragraph (2) at the principal office of the company from one week prior to the date set for an ordinary general meeting of shareholders.

(4) The provisions of Article 448 (2) shall apply mutatis mutandis to the documents listed in paragraph (3).

(5) A liquidator shall submit a balance sheet and a business report to an ordinary general meeting of shareholders for approval.[This Article Wholly Amended by Act No. 3724, Apr. 10, 1984]

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Korean original (law.go.kr) · Get articles as JSON via API