1. The articles of association may provide that, on the death of a member, that member’s quota interest shall not be transferred to the deceased’s successors, and may also make the transfer subject to certain requirements, but always in compliance with the following paragraphs.
1 - O contrato de sociedade pode estabelecer que, falecendo um sócio, a respectiva quota não se transmitirá aos sucessores do falecido, bem como pode condicionar a transmissão a certos requisitos, mas sempre com observância do disposto nos números seguintes.
2. Where, by virtue of provisions of the articles of association, the quota interest is not transferred to the successors of the deceased member, the company must redeem it, acquire it or have it acquired by a member or a third party; if none of these measures is carried out within the 90 days following the date on which any of the managers became aware of the member’s death, the quota interest is deemed to have been transferred.
2 - Quando, por força de disposições contratuais, a quota não for transmitida para os sucessores do sócio falecido, deve a sociedade amortizá-la, adquiri-la ou fazê-la adquirir por sócio ou terceiro; se nenhuma destas medidas for efectivada nos 90 dias subsequentes ao conhecimento da morte do sócio por algum dos gerentes, a quota considera-se transmitida.
3. Where the option chosen is to have the quota interest acquired by a member or a third party, the relevant contract is executed by the company’s representative and by the acquirer.
3 - No caso de se optar por fazer adquirir a quota por sócio ou terceiro, o respectivo contrato é outorgado pelo representante da sociedade e pelo adquirente.
4. Unless the articles of association provide otherwise, the corresponding statutory or contractual provisions on redemption apply to the determination and payment of the consideration owed by the acquirer, but the effects of the disposal of the quota interest are suspended until that consideration has been paid.
4 - Salvo estipulação do contrato de sociedade em sentido diferente, à determinação e ao pagamento da contrapartida devida pelo adquirente aplicam-se as correspondentes disposições legais ou contratuais relativas à amortização, mas os efeitos da alienação da quota ficam suspensos enquanto aquela contrapartida não for paga.
5. If the consideration is not paid in due time, the interested parties may choose between enforcing their claim and the ineffectiveness of the disposal; in the latter case, the quota interest is deemed to have been transferred to those successors of the deceased member who were entitled to that consideration.
5 - Na falta de pagamento tempestivo da contrapartida os interessados poderão escolher entre a efectivação do seu crédito e a ineficácia da alienação, considerando-se neste último caso transmitida a quota para os sucessores do sócio falecido a quem tenha cabido o direito àquela contrapartida.
The 90-day period running from a manager's knowledge of the death, the three alternatives open to the company, the suspension of the effects of the disposal pending payment and the election given to the interested parties in paragraph 5 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.