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Federal Act
on the Amendment of the Swiss Civil Code
(Part Five: The Code of Obligations)

English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force.

of 30 March 1911 (Status as of 1 January 2022)

Art. 681

II. Con­sequences of de­fault

1. By law and the art­icles of as­so­ci­ation

 

1 A share­hold­er who fails to pay in the is­sue amount for his share in good time is ob­liged to pay de­fault in­terest.

2 Fur­ther, the board of dir­ect­ors has the power to de­clare that the de­fault­ing share­hold­er has for­feited his rights in re­spect of the share sub­scrip­tion and any part pay­ments already made and that his shares are for­feited and to is­sue new ones in their place. Where the for­feited shares have already been is­sued and can­not be phys­ic­ally ob­tained, such de­clar­a­tion of for­feit­ure is pub­lished in the Swiss Of­fi­cial Gaz­ette of Com­merce and in the form en­vis­aged by the art­icles of as­so­ci­ation.

3 The art­icles of as­so­ci­ation may also provide that a share­hold­er in de­fault also be re­quired to pay a con­trac­tu­al pen­alty.