| (1) | A company may pay dividends within the limit of the value of net assets stated on the balance sheets after deducting the following: |
| 1. | The amount of capital; |
| 2. | The total amount of the capital reserve and the earned surplus reserve accumulated until the pertinent period for the settlement of accounts of the company; |
| 3. | The amount to be accumulated for the pertinent period for the settlement of accounts of the company; |
| 4. | Unrealized profits determined by Presidential Decree. |
| (2) | Each payment of dividends shall be resolved by a general meeting of shareholders: Provided, That the same shall be resolved by the board of directors in cases where the board of directors approves financial statements pursuant to Article 449-2 (1). |
| (3) | In cases where dividends have been paid in violation of paragraph (1), any creditor of the company may claim that such dividends be returned to the company. |
| (4) | The provisions of Article 186 shall apply mutatis mutandis to a lawsuit relating to a claim under paragraph (3). |
[This Article Wholly Amended by Act No. 10600, Apr. 14, 2011]