(1) Where a control agreement or a profit and loss absorption agreement ends, the other contracting party is to provide security to those of the creditors of the company whose claims have arisen prior to notice by publication having been made as to the agreement’s termination having been entered in the Commercial Register pursuant to section 10 of the Commercial Code, provided they come forward to the other contracting party for this purpose within six months of the notice by publication of the entry. This right is to be indicated to the creditors in a notice by publication regarding the entry.
(2) Those creditors are not entitled to demand security who are entitled to preferred satisfaction of their claims, in the event of insolvency, out of covering funds that were created for their protection pursuant to the stipulations of the law and that are monitored by the state.
(3) Instead of providing security, the other contracting party may guarantee the claim. Section 349 of the Commercial Code regarding the exclusion of the defence of failure to pursue remedies is not to be applied.