Article 99. Fixed capital of the company

1. The statutory capital of the company is derived from the nominal value of the shares of the company acquired by the shareholders. In the cases provided for in the Act on Shareholdings, the payment of additional shares by way of a set-off of claims against the company may be made. 3. Public subscription to shares of a joint stock company shall not be permitted until full payment of the statutory capital is made; when a joint stock company is established, all its shares shall be distributed to the university. 4. If, at the end of the second or subsequent fiscal year, the value of the net assets of the joint-stock company is less than its statutory capital, the company shall, in order and on time, to the extent required by the law on joint stock companies, the obligation to increase the value of net assets to the size of the statutory capital or to register, in accordance with the established procedure, a reduction in the statutory capital 5. If the value of the said assets of the society becomes less than the statutory minimum amount, the society is to be eliminated. Publicly, limits may be imposed on the number, the sum of the nominal value of the shares or the maximum number of votes held by a single shareholder.