Civil Aviation Act Article 49
A civil air transport enterprise shall be formed as a corporate organization adhering to the following rules:1) Unlimited company with the entire body of its shareholders being citizens of the ROC.2) Limited company with over 50 percent of capital owned by citizens or legal persons of the ROC and represented by directors who are citizens of the ROC.3) Company formed by shareholders of both limited and unlimited liabilities, whose unlimited liability shareholders are citizens of the ROC.4) Company limited by shares with over 50 percent of its total shares owned by citizens or legal persons of the ROC, whose chairman and over 50 percent of the directors are citizens of the ROC; provided that no single citizen or legal person of a foreign country may hold more than 25 percent of its total shares.For a company limited by shares, all the shares issued should be registered by name.
中文原文 民用航空法第49條
民用航空運輸業應為公司組織，並應合於下列規定：
一、無限公司之股東全體為中華民國國民。
二、有限公司之資本總額逾百分之五十為中華民國之國民、法人所有，其代表公司之董事為中華民國國民。
三、兩合公司之無限責任股東全體為中華民國國民。
四、股份有限公司之股份總數逾百分之五十為中華民國之國民、法人所有，其董事長及董事逾半數為中華民國國民，且單一外國人持有之股份總數不得逾百分之二十五。
股份有限公司發行股票者，其股票應記名。
一、無限公司之股東全體為中華民國國民。
二、有限公司之資本總額逾百分之五十為中華民國之國民、法人所有，其代表公司之董事為中華民國國民。
三、兩合公司之無限責任股東全體為中華民國國民。
四、股份有限公司之股份總數逾百分之五十為中華民國之國民、法人所有，其董事長及董事逾半數為中華民國國民，且單一外國人持有之股份總數不得逾百分之二十五。
股份有限公司發行股票者，其股票應記名。