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General Norms » Physical and Juridic Person » Juridical Persons
Canon 120. §1. A juridic person is perpetual by its nature; nevertheless, it is extinguished if it is legitimately suppressed by competent authority or has ceased to act for a hundred years. A private juridic person, furthermore, is extinguished if the association is dissolved according to the norm of its statutes or if, in the judgment of competent authority, the foundation has ceased to exist according to the norm of its statutes.

§2. If even one of the members of a collegial juridic person survives, and the aggregate of persons (*universitas personarum*) has not ceased to exist according to its statutes, that member has the exercise of all the rights of the aggregate (*universitas*).
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