{"schemaVersion":1,"recordType":"legal-article","id":"law:eri:code:civil:2015:article:1226","workId":"law:eri:code:civil:2015","expressionId":"law:eri:code:civil:2015:en","title":"Subscription for New Shares","number":"1226","language":"en","canonicalUrl":"https://eriatlas.com/law/civil-code-2015/article/1226/","hierarchy":{"book":"BOOK IV - PROPERTY","title":"TITLE V - USUFRUCT AND OTHER RIGHTS IN REM","chapter":"Chapter 1. - Usufruct and Right of Occupation","section":"Section 2. - Special Rules Regarding Usufruct of Credits and Other Rights","paragraph":null},"paragraphs":[{"id":"p1","number":"1","text":"Where a preferential right of subscription is granted in respect of a share to which the usufruct extends, the right to subscribe for the new shares shall belong to the owner of the share.","canonicalUrl":"https://eriatlas.com/law/civil-code-2015/article/1226/#p1","sourceTargets":[{"sourceId":"civil-code-2015-en","pdfPage":340,"url":"https://eriatlas.com/sources/civil-code-2015/page/340/?article=1226&paragraph=p1#article-1226-p1"}]},{"id":"p2","number":"2","text":"the usufructuary’s right shall extend to the new shares subscribed for by the owner or to the proceeds of the sale of the subscription rights.","canonicalUrl":"https://eriatlas.com/law/civil-code-2015/article/1226/#p2","sourceTargets":[{"sourceId":"civil-code-2015-en","pdfPage":340,"url":"https://eriatlas.com/sources/civil-code-2015/page/340/?article=1226&paragraph=p2#article-1226-p2"}]}],"caution":"This is the 2015 English-language edition attributed in its front matter to the Ministry of Justice. Eri Atlas has not independently verified the translation, later changes, or whether the text is currently in force. Nine passages are incomplete in the available scan and are identified where they occur."}