Company Act Article 71Aug. 1, 2018

A company shall be dissolved under any of the following circumstances:

1. The occurrence of the conditions for dissolution stipulated in the Articles of Incorporation;
2. The accomplishment or impossibility of accomplishment of the purpose for which the company has been formed;
3. Approval by two thirds or more of all shareholders;
4. The reduction of the number of shareholders to a number below the minimum required by this Act;
5. Consolidation or merger with another company;
6. Bankruptcy; or
7. Order or judgment for dissolution.

In such cases as specified in items 1 and 2 of the aforesaid paragraph, if all or a part of the shareholders agree to continue the business, they may so continue, and those disagreed are deemed to be retired.

In the case specified in Item 4 of Paragraph 1, new shareholders may join the company to continue the business.

In case of continuation of the business under the circumstances specified in the two preceding paragraphs, the Articles of Incorporation shall be modified.

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Unless otherwise provided by the act or by the contract, the compensation shall be limited to the injury actually suffered and the interests which have been lost. "Interests which could have been normally expected are deemed to be the interests which have been lost, according to the ordinary course of things, the decided projects, equipment, or other particular circumstances.

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