State Act
Section 1270. Supplementary rules of administration
Article 1270 – Supplementary rules of administration – The absence of express stipulation over the form of administration shall be made up by the following rules :- 1. All shareholders are vested with equal power of administration : the acts practiced by any of them bind the others subject to the right to object, till these acts do not produce legal effect; 2. Any of the shareholders may use the assets of the firm in the customary way provided no loss is caused to the society and provided the other shareholders are not deprived of the enjoyment to which they also are entitled; 3. Each shareholder has a right to compel the others to contribute alongwith him in the expenses necessary for the conservation of the assets of society; 4. None of the shareholders may without the consent of the others make alterations in the immovable assets of the society even if such alterations may appear useful to him, nor may he bind or alienate the movable or immovable assets of the society; 5. If there is difference among the shareholders, matters shall be resolved by majority, whatever may be the disproportion in their shares; in case of a tie, the matter shall remain unresolved till a subsequent resolution.