Article 11. Rights of Representation by Managers

(Compare Article 38 of the former Commercial Code)

1. A manager shall have all the authority, in substitution for the corporation, with respect to the business for actions in the courts or outside the courts.

2. The manager shall have the authority to appoint or dismiss other employees.

3. Extra restrictions imposed on the rights of the representation by the manager can not be asserted against a good faith bona fide third party.

Disclaimer: This translation is for general reference purposes only and is provided on an “as is” basis with no warranties made whatsoever. Attorney Roderick H. Seeman (licensed in the USA) shall not be responsible for any consequences resulting from the use of this translation. Reliance must be placed on the original Japanese text of the laws. In the text of the translation article headings are added in parenthesis are not in the Japanese language original and are added only for the purposes of enhanced comprehension.

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