Page 261 - Albanian law on entrepreuners and companies - text with with commentary

Article 4: Seat, Website and Electronic Address
(1) The JSC has its registered seat in: …..
(2) The company’s website is the following: …..
(3) The company’s address for the purpose of electronic communications is the following (if
applicable): …..

Title II
Share Capital

Article 5: Initial Capital Amount and Payments
(1) The initial capital of this JSC is ….. Lek (at least 2.000.000), divided into
ordinary shares with a nominal value of ….. each. Founders acquire their shares in the initial
capital in accordance with their contributions as follows:
1. Founder A: ….. contribution type: ….. number and value of shares: ….. paid up: …..
2. Founder B: …..
3. Founder C: …..
Total number of shares …..
and initial capital: …..
paid up: …..
(2) 25% of contributions in cash shall be paid up immediately. Contributions in kind shall be
transferred to the Company before registration. Contributions in kind requiring any transfer
of ownership to the newly created JSC shall be transferred immediately after registration
with the NBC.
(3) Payments of cash contributions shall be made to the following account no. …. in the
Bank…..
(4) The founders request the Court competent at the company’s seat to nominate a licensed
independent expert for the evaluation of the contributions in kind. The expert’s report will
be submitted to the NBC together with this Statute.

Article 6: Calls on Shares and Forfeiture
(1) The Managing Directors may make calls upon the shareholders in respect of any
contribution unpaid on their shares and each shareholder shall (subject to receiving at least
fourteen clear days’ notice specifying when and where payment is to be made) pay to the
company as required by the notice the amount called on his shares. A call may be required
to be paid by installments. A person upon whom a call is made shall remain liable for calls
made upon him/her notwithstanding the subsequent transfer of the shares in respect of which
the call was made.
(2) The joint holders of a share shall be jointly and severally liable to pay all calls in respect
thereof.

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