"Company Law " Article 4: Shareholders of the Company are legally entitled to capital gains, to participate in major decisions and choose managers. As a shareholder, at the annual meeting of shareholders or the shareholders' meeting, discuss and decide on the company 's major policies; elect the board of directors and board of supervisors for every three years; receive dividends; when the company comes into dissolution, distribute the remaining assets after debts.
"Company Law" Article 38: Shareholders may exercise the following powers:-
- (A) determine the company's operating policies and investment plans ;
- (B) elect and remove directors who is not appointed by the employees' representatives, supervisors, decide on directors and supervisors’ remuneration ;
- (C) consider and approve the report of the Board of Directors ;
- (D) consider and approve the report of the board of supervisors or the supervisor ;
- (E) consider and approve the annual financial budget and final accounts ;
- (F) consider and approve the profit distribution plans and loss recovery plans ;
- (G) consider the increase or decrease of the company 's registered capital ;
- (H) consider the issuance of bonds by the company ;
- ( I ) consider in the case of merger, division, dissolution, liquidation or change of corporate form of resolution ;
- (J) amend the Articles of Association ;
- (K) any other powers specified in the Articles of Association.
For all matters listed above, shareholders can through unanimous consent in writing, but without convening a shareholders' meeting. Any decision made by all shareholders must be signed and sealed.
"Company Law" Article 23 and 24 state: A limited liability company can be funded by 50 or less shareholders.
"Company Law" Article 33 provides that: A limited liability company shall prepare a register of shareholders and record the following matters:-
1. Shareholder's former name, the other name and domicile;
2. Shareholder's capital contributions ;
3. Capital contribution certificate number.
Those shareholders, who were recorded in the Register of Shareholders, shall according thereto, exercise its rights.
Company shall record all its shareholder's former name, other name or its capital contribution to the company, and register with the relevant registration authority; should there be the registered items changed, it shall register the said changes.