(1) If a company has several directors, management of the business of the company, appointment or dismissal of managers, and establishment, transfer or closure of branch offices shall be determined by a majority vote of the directors, unless otherwise provided for by the articles of incorporation. <Amended by Act No. 3724, Apr. 10, 1984>
(2) A manager may be appointed or removed at a general meeting of members, notwithstanding the provisions of paragraph (1). <Amended by Act No. 3724, Apr. 10, 1984>
(3) A director may enter into transactions with a company on his/her own account or on the account of a third party only if he/she has obtained approval from an auditor, or from a general meeting of members in cases of absence of the auditor. In such cases, the provisions of Article 124 of the Civil Act shall not apply. <Newly Inserted by Act No. 1212, Dec. 12, 1962>