Article 270 — Indivisibility of Shares

1/ Shares are indivisible. 2/ Where several persons own shares jointly, they shall appoint a representative to exercise the shareholder`s rights. 3/ Failing such appointment, notices and declarations made by the company to one joint owner shall be effective against all joint owners. 4/ Joint owners of a share shall be jointly and severally liable in respect of any liabilities as shareholder.