Issuing of Share Certificate Article 215 A Share Certificate-Issuing Company must, without delay after the day of a share issue, issue share certificates representing those shares.
If a Share Certificate-Issuing Company consolidates shares, it must issue share certificates representing those consolidated shares without delay after the day provided for in Article 180, paragraph (2), item (ii).
If a Share Certificate-Issuing Company splits shares, it must issue share certificates representing those split shares (excluding those which have been already issued) without delay after the day provided for in Article 183, paragraph (2), item (ii).
Notwithstanding the provisions of the preceding three paragraphs, a Share Certificate-Issuing Company that is not a Public Company may elect to not deliver share certificates under those paragraphs until shareholders so request.