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Branch
Article 17
- (1)
- A merchant may open a branch outside the community where its seat is located.
- (2)
- A branch shall be registered in the commercial register of the court in whose district its seat is located.
- (3)
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The registration shall be made on the basis of a written application which shall stipulate:
- 1.
- the merchant's trade name, seat and purposes;
- 2.
- the merchant's registered capital, when required by law;
- 3.
- the seat and purposes of the branch;
- 4.
- the branch manager.
- (4)
- The application shall be accompanied by a certificate of the merchant's registration.
- (5)
- The court in which the branch has been registered shall forthwith forward a copy of the court's ruling on the registration to the court where the merchant is registered. The registration shall be done as a matter of course.
Relocation of a Branch
Article 18
The rules pertaining to a merchant shall apply mutatis mutandis to the seat and registered office of a branch and its relocation.
Account Books of a Branch
Article 19
A branch shall keep its account books as an independent merchant, without preparing a separate balance sheet. The branch of a legal person which is not a merchant within the meaning of this Law and the branch of a foreign person shall further prepare a balance sheet.
Jurisdiction
Article 20
Actions based on disputes arising from a direct relationship with a branch may be brought against the merchant at the seat of the branch as well.
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