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General Norms » Physical and Juridic Person » Juridical Persons
Canon 120. §1 A juridical person is by its nature perpetual. It ceases to exist, however, if it is lawfully suppressed by the competent authority, or if it has been inactive for a hundred years. A private juridical person also ceases to exist if the association itself is dissolved in accordance with the statutes, or if, in the judgement of the competent authority, the foundation itself has, in accordance with the statutes, ceased to exist.
§2 If even a single member of a collegial juridical person survives, and the aggregate of persons has not, according to the statutes, ceased to exist, the exercise of all the rights of the aggregate devolves upon that member.
Previous Next§2 If even a single member of a collegial juridical person survives, and the aggregate of persons has not, according to the statutes, ceased to exist, the exercise of all the rights of the aggregate devolves upon that member.
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