Repurchase Reductions

Members can express their willingness to purchase within thirty days of notification, if different, shall be apportioned among them in proportion to their respective shares. In the event that any member exercising the right specified. Society may acquire those shares to be repurchased, with the consequent reduction in social capital. After the deadline, without having made use of the preference, the member would be free to transfer its shares in the form and the way it deems appropriate, except that it had convened a meeting to decide the management of holdings society. In the latter case, if after the date fixed for the holding of the board is has not decided the acquisition of the shares, the shareholder may proceed to transfer. To exercise the right granted in this Article, the sale price in case of discrepancy will be fixed by three experts, one appointed by each party and a third appointed by the other two, or if this is not achieved by the court by application for summary proceeding. The statute may establish other covenants and conditions for transmission of shares and their evaluation in such cases but in no case be valid covenant prohibiting all transfers.

Are null transfers to persons foreign to the society that does not comply with the provisions of this article. The transfer of shares issued is formalized in writing and entered in the register ". 15 Transfer of shares by succession The SRL contains provisions designed to maintain the closed nature of these societies is to enable the society to remain in the hands of the founding members, limiting the entry of outsiders.