(1) The investment stock corporation with variable capital may, within the limits of a minimum capital and maximum capital to be laid down in the articles of association, issue and redeem its shares at any time in accordance with the following provisions.
(2) Shareholders may demand from the investment stock corporation with variable capital that, against the return of shares, their share of the share capital be paid out to them; for a retail investment stock corporation, this right exists at least twice a month. The obligation to redeem exists, for an internally managed investment stock corporation with variable capital, only where satisfying the redemption claim would not cause the company's assets to fall below the amount of the initial capital and the additional own funds required under section 25. Founder shareholders may, moreover, demand the redemption of their shares only where all founder shareholders consent and, in relation to all contributions of the founder shareholders, the amount of the initial capital and the additional own funds required under section 25 is not fallen below; for an externally managed investment stock corporation with variable capital, an amount of EUR 50,000 may not be fallen below in relation to all contributions of the founder shareholders. The details of redemption are governed by the articles of association. Payment of the acquisition price on the redemption of shares is not regarded as a return of contributions. Section 98(1a) to (5), and sections 223 or 227, apply correspondingly to the restriction, in the articles of association, of shareholders' right to redeem shares.
(3) The share capital is reduced upon the redemption of the shares.