(1) A lessee shall have a right to be reimbursed a certain amount of the security deposit in preference to other holders of a real right granted by way of security. In such cases, such lessee shall satisfy the conditions under Article 3(1) before registering an application for the auction of a building.
(2) The provisions of Article 5(4) through (6) shall apply mutatis mutandis to cases under paragraph (1).
(3) The extent and standards of lessees to be reimbursed preferentially and a certain amount of the security deposit reimbursed under paragraph (1) shall be prescribed by Presidential Decree following deliberation by the Commercial Building Lease Committee under Article 14-2, considering the economic conditions of relevant areas, security deposit, rent, etc. within the extent of 1/2 of the price of leasehold building (including the price of site possessed by a lessor). <Amended on Aug. 13, 2013; Jul. 31, 2020>[This Article Wholly Amended on Jan. 30, 2009]