Civil Code: Unincorporated Entity
Civil Code: Unincorporated Entity
Chapter IV Unincorporated Entity
Article 102 Unincorporated entity means any entity that is not granted the status as a legal entity but may engage in civil activities in its own name according to law.
Unincorporated entities include but are not limited to sole proprietorships, partnerships, and professional service entities not granted the status as a legal entity.
Article 103 An unincorporated entity shall be registered according to law.
The establishment of an unincorporated entity shall be approved by the competent authority if required by laws and administrative regulations.
Article 104 Where the property of an unincorporated entity is insufficient to cover its debts, its contributors or founders shall assume unlimited liability, unless otherwise specified by law.
Article 105 An unincorporated entity may appoint one or more individuals to engage in civil activities on its behalf.
Article 106 An unincorporated entity shall be dissolved:
(1) upon the expiration of its operational period or the occurrence of any other cause for its dissolution, under its articles of association;
(2) as decided by the contributors or founders; or
(3) in case of any other event specified by law.
Article 107 An unincorporated entity shall be liquidated according to law upon its dissolution.
Article 108 In addition to this Chapter IV, unincorporated entities shall also be governed by the provisions of Section 1 of Chapter III under this TITLE ONE.