Chapter III · Articles of association · Section II · Duties and rights of members · Subsection I · Duties and rights of members in general

Article 22 Participation in profits and losses

Artigo 22.º · Participação nos lucros e perdas

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

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1. In the absence of a special provision or an agreement to the contrary, members share in the company's profits and losses in proportion to the values of their respective interests in its capital.

1 - Na falta de preceito especial ou convenção em contrário, os sócios participam nos lucros e nas perdas da sociedade segundo a proporção dos valores das respectivas participações no capital.

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2. If the articles specify only each member's share in profits, that member's share in losses is presumed to be the same.

2 - Se o contrato determinar somente a parte de cada sócio nos lucros, presumir-se-á ser a mesma a sua parte nas perdas.

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3. A provision excluding a member from sharing in profits or exempting a member from sharing in the company's losses is void, subject to the provisions concerning members contributing services.

3 - É nula a cláusula que exclui um sócio da comunhão nos lucros ou que o isente de participar nas perdas da sociedade, salvo o disposto quanto a sócios de indústria.

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4. A provision leaving the allocation of profits or losses to the discretion of a third party is void.

4 - É nula a cláusula pela qual a divisão de lucros ou perdas seja deixada ao critério de terceiro.

What we checked in this article

Default proportional allocation, profits/losses presumption and the two void clauses are retained.

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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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