1. [10%] of the net profits of the Company shall be deducted each year and set aside to form a statutory reserve, unless the AOA of the Company provides for a higher percentage. 2. The General Assembly may stop such deductions when the statutory reserve reaches 50% of the paid up capital of the Company, unless its AOA provides for a higher percentage. 3. The statutory reserve may not be disbursed as dividends to the shareholders. However, reserves that exceed 50% of the Capital may be distributed as dividends in years in which the Company does not have sufficient net profits available for distribution at the percentage stated in the AOA
Interpretation and application must be checked against the official text and current version.