Commercial Companies Law

Commercial Companies Law — Article 153

A security or bond shall not be divisible nor shall it be owned jointly by more than one person except in the case of inheritance, provided that the heirs shall be represented by one representative who is selected from among them, failing which they will be represented by the person whose name comes first in the register of holders of securities or bondholders. The security or bond owned by the heirs shall not be disposed of except with their unanimous consent or with the consent of their legal attorney.

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