Companies Act

A membership company dissolves on the grounds set forth below:

the expiration of the duration provided for in the articles of incorporation;

the grounds for dissolution provided for in the articles of incorporation having arisen;

the consent of all members;

the absence of all members;

merger (but only if the membership company disappears in the merger);

a ruling for commencement of bankruptcy procedures; or

a judgment ordering the dissolution under the provisions of Article 824, paragraph (1) or Article 833, paragraph (2).

If a membership company dissolves on the grounds set forth in items (i) through (iii) of the preceding Article, the membership company may continue in existence by the consent of some or all members until the completion of the liquidation under the provisions of the following Chapter.

In the case provided for in the preceding paragraph, members who have not given consent to the continuation of the membership company withdraw on the day when it is determined that the membership company will continue in existence.

If a membership company has dissolved, relevant membership company cannot engage in the following acts:

merger (but only if the membership company survives the merger);

succession by absorption-type company split to some or all of the rights and obligations held by another company with respect to that company's business.