L. Paul Bremer, Coalition Provisional Authority

“ The general assembly is the highest authority in the
company. It decides on all matters that serve its interest; and, it is
empowered to do the following:
First: Discuss and approve the founders' report on procedures pertaining
to the establishment of the company at the constituent meeting.
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Second: Decide on the election of the representatives of shareholders
from outside the state sector -in the board of directors of the mixed
company, and the representatives of all shareholders in the board of
directors of the private joint stock company, as well as on their dismissal. ”

“ The general assembly of the joint-stock company and the
limited liability company may cover the increase in the capital by any of
the following methods:
First: Issuing new shares whose value is paid in cash.
Second: Transferring funds from the accumulated surplus or the issuance
allowance reserve into shares to be distributed among the shareholders in
the ratio of their subscription to the capital.
Third: Withholding part of the company's profits as a reserve for
expanding and developing the enterprise instead of distributing them as
dividends. ”

“ The issuance of a final decision by a competent court.
Article 191: The partners may ask for a court decision to exclude a
partner, whose behavior could be a cause for dissolving the company,
provided the company can continue to exist with the remaining partners.
Article 192: If a partner withdraws, he has the right to transfer his share
of the capital to another person with the approval of the remaining
partners. If they do not approve, they must accept the value of the
withdrawing partner's share as decided by the court. ”

“ The chairman and members of the board of directors shall do
their best to serve the interests of the company as they would serve their
own personal interests, and run the company in a sound and legal manner. ”

“ The board of directors shall handle the necessary
administrative, financial, planning, organizational, and technical duties
for running the company's business, other than those that fall within the
jurisdiction of the general assembly. ”

“ Article 151: The merger shall be considered effective as of the last
publication date of the amended or new contract, depending on the
circumstances. On this date, the corporate status of the companies
merging into the new company shall be terminated. The Registrar's
endorsement of the contract is tantamount to a license of establishment
Article 152: All the rights and commitments of the merger shall be
transferred to the company with which it was merged, or the company
resulting from the merger.
Section Three: Transformation of a Company ”