Paragraph 4: Withdrawal of a partner

A member whose contribution is exclusively industrial, wishing to withdraw from the company, shall notify the company of his decision in the manner provided for in the first paragraph of article R. 4381-53. His withdrawal takes effect on the date he indicates, or failing that, on the date of such notification. However, the Articles of Association may provide that the withdrawal shall not take effect until the expiry of a…

A member holding shares corresponding to a capital contribution may, on condition that he informs the company thereof in the manner provided for in the first paragraph of Article R. 4381-53, cease the professional activity which he pursues within this company before the end of the procedure for the sale or repurchase of his shares. Where applicable, he must comply with the deadline set by the articles of association, which…

As soon as a member ceases to be a professional, he loses the rights attached to his status as a member, with the exception, however, of remuneration relating to capital contributions and his share, if any, in the capital and in the reserves and capital gains; on the same date, he ceases to be subject to the incompatibilities and prohibitions attached to this status. The Managing Director is required to…