Commercial Companies Law

Commercial Companies Law — Article 95

The constitutive general meeting shall, prior to the approval of any of the actions referred to in Article 94 of this Law, be informed of the facts related to the action. Whoever violates this obligation shall be liable to the extent of his/her property for the damage sustained by the company as a result of the action that has been approved and, if the persons responsible are several, they shall be jointly liable for such damage. If any of the aforementioned actions are not approved, the founders shall be jointly liable for the effects and obligations arising from the action.

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