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General Norms » Physical and Juridic Person » Juridical Persons
Canon 123. On the extinction of a public juridical person, the arrangements for its patrimonial goods and rights, and for its liabilities, are determined by law and the statutes. If these do not deal with the matter, the arrangements devolve upon the next higher juridical person, always with due regard for the wishes of the founders or benefactors and for acquired rights. On the extinction of a private juridical person, the arrangements for its goods and liabilities are governed by its own statutes.
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