Civil Code Article 35June 19, 2019

When a juridical person is in a state of insolvent, the director shall immediately apply to the court for the declaration of bankruptcy. "If the director fails to make the preceding application, so that the creditors of the juridical person incur the injury, he who is negligent shall be liable for the injury. If more than one director is negligent, they shall be liable for the injury jointly.

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