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Commercial Act — Article 576 (Matters Requiring Special Resolution for Transfer of Business, etc. of Limited Company)

상법 제576조

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) In cases where a limited company intends to conduct an act falling under any of subparagraphs 1 through 3 of Article 374 (1), a resolution thereon shall be adopted at a general meeting of members under Article 585. <Amended by Act No. 10600, Apr. 14, 2011>

(2) The provisions of the preceding paragraph shall apply mutatis mutandis where a limited company concludes, within two years of its incorporation, an agreement to acquire assets existing from before its incorporation for a value equivalent to no less than one twentieth of its capital, for purposes of its business. <Amended by Act No. 10600, Apr. 14, 2011>

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