Commercial Companies Law

Commercial Companies Law — Article 93

A founder shall, in his/her dealings with the company under establishment or for its account, exert the care of a prudent person, and the founders shall be jointly liable for any damage which may be sustained by the company or third parties as a consequence of their default. If a founder receives any information or funds belonging to the company under establishment, he/she shall inform the company of such information and refund to it such funds and any profits he/she might have obtained as a result of what he/she has received.

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