The defaulting member of a limited company in Italy

In the case of a defaulting member in the implementation of revenue due to the company in concept of debt contribution resulting from the company's capital increase as established by the Board during the company's life long the member of an Italian company cannot be excluded as he/she is owner of shares of ownership from the company's constitution. So as the member remains as owner considering the share he owns, the Board has to decide on the reduction of the company  only regarding the reduction of the capital of the company due to part of income not paid by the “defaulting member” except in the case of a statute providing indivisibility of shares.  

The defaulting member of an Italian limited company will not be admitted to express his/her vote for decisions and Board deliberations as established by the second paragraph of article 2466 of the Italian Civil Code but this member the right of control over the company's matters as established by the second paragraph of article 2476 of the Italian Civil Code until the defaulting member belongs to the Company “in esito al procedimento intrapreso dagli amministratori”