Shares in a limited liability company shall not be divisible, but a share may be owned by more than one person, provided that the several owners shall be represented by one person to be chosen from among them, who will be considered by the company as the owner of the jointly owned share. Such representative of the several owners shall be the person whose name will be entered in the register of shareholders. The company may specify to the joint owners of the share a date for choosing their representative, and it shall be entitled after the expiry of such date, to sell the share to the benefit of its owners and in such a case, the shareholders shall have priority to buy it. In all circumstances, the disposal of a jointly owned share will be conditional upon presentation of an official instrument in writing to that effect by the owners thereof.
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