The Foundation - VIII. The Foundation’s liquidation

VIII.

The Foundation’s liquidation

 

The foundation is liquidated in the cases specified in Articles 74/E-F of the Civil Code. In this case the assets of the Foundation – after the payoff of possible creditors – entitle the Founder in proportions he had contributed, while the rest of the assets have to be given to cases with similar public minded goals as those of the Foundation and the public must be informed properly about this.