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Structural division: books › CHAPTER SEVEN
Article 532 — Loss of Three-Quarters of the Capital
New Ethiopian Commercial Code Proclamation No. 1243 2021 English Version
Article text
1/ where three-quarters of the capital is lost, the board of directors, if any or the manager shall cause the members to decide whether or not to dissolve the company.
2/ Where the members decide not to dissolve the company; they shall make additional contributions to restore the capital.
3/ Where the provisions of Sub-Article
(1) and
(2) of this Article are not complied with within ninety consecutive days from the date on which the loss of three-quarters of the capital is known, any interested person may apply to the court for dissolution.