Chapter XI · Conversion of companies · Section I · Domestic conversions

Article 137 Members’ right of withdrawal

Artigo 137.º · Direito de exoneração dos sócios

Código das Sociedades Comerciais · Decree-Law No. 262/86 · consolidated text checked 26 October 2026

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1. If the law or the articles of association confer on a member who voted against the conversion resolution the right to withdraw, the member may, within one month from approval of the resolution, require the company to acquire or arrange the acquisition of that member’s interest.

1 - Se a lei ou o contrato de sociedade atribuir ao sócio que tenha votado contra a deliberação de transformação o direito de se exonerar, pode o sócio exigir, no prazo de um mês a contar da aprovação da deliberação, que a sociedade adquira ou faça adquirir a sua participação social.

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2. Members who withdraw from the company under paragraph 1 shall receive the value of their interest calculated in accordance with Article 105.

2 - Os sócios que se exonerarem da sociedade, nos termos do n.º 1, receberão o valor da sua participação calculado nos termos do artigo 105.º

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3. (Repealed.)

3 - (Revogado.)

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4. (Repealed.)

4 - (Revogado.)

What we checked in this article

The right arises only where the law or the articles confer it on a member who voted against; the one-month period from approval and valuation under Article 105 are retained, and paragraphs 3 and 4 are repealed.

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Unofficial English translation prepared by BCA Portugal for reference. Only the Portuguese text published in the Diário da República has legal force. Editorial notes are ours and are not part of the statute.

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