(1) The shares of stock may be created either as par-value shares or as no-par-value shares.
(2) Par-value shares must have a value of at least one euro. Any shares of stock having a lower nominal amount are null and void. The issuers of shares of stock are liable as joint and several debtors to the holders of such shares for any damages resulting from the issuance. Where the nominal amounts of the shares of stock are higher, they must be denominated in full euros.
(3) No nominal amount attaches to no-par-value shares. The no-par-value shares of a company represent equal portions of its capital stock. The stake in the capital stock allocated to the individual no-par-value share may not be lower than one euro. Subsection (2) sentences 2 and 3 applies accordingly.
(4) For par-value shares, the portion of the capital stock they represent is determined based on the ratio between their nominal amount and the capital stock, while for no-par-value shares, it is determined based on the number of shares of stock.
(5) The shares of stock are indivisible.
(6) The above provisions also apply to share participation certificates allotted to stockholders prior to the issuance of the shares of stock (temporary share certificates).