Article (237)
If the articles of association of a closed joint-stock company provide that the board of directors must approve the shares' purchaser, the board shall, in case of rejecting the purchaser, purchase the shares for the company's account within fifteen days from the date of notifying the board of the request for approval. In this case, the purchase shall be concluded for the declared price without prejudice to the provisions regulating the purchase of a company of its shares.