1. A resolution of the joint holders on the exercise of their rights may be adopted by majority, in accordance with Article 1407(1) of the Civil Code, unless its object is the extinction, disposal or encumbrance of the quota interest, an increase in obligations, or the waiver or reduction of the members’ rights; in those cases, the consent of all joint holders is required.
1 - A deliberação dos contitulares sobre o exercício dos seus direitos pode ser tomada por maioria, nos termos do artigo 1407.º, n.º 1, do Código Civil, salvo se tiver por objecto a extinção, alienação ou oneração da quota, aumento de obrigações, renúncia ou redução dos direitos dos sócios; nestes casos, é exigido o consentimento de todos os contitulares.
2. A resolution under the first part of the preceding paragraph does not produce effects vis-à-vis the company, binding only the joint holders among themselves and, towards them, the common representative.
2 - A deliberação prevista na primeira parte do número anterior não produz efeitos em relação à sociedade, apenas vinculando os contitulares entre si e, para com estes, o representante comum.
Majority decision-making under Article 1407(1) of the Civil Code, the matters requiring the consent of all joint holders and the purely internal effect of majority resolutions 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.