23 Лютий

Article 8 Discontinuation of the Association Activity

8.1     Activity of the Association can be discontinued by way of liquidation or reorganization by decision of the Convention of the Association or on other grounds provided for by Law of Ukraine.

8.2     The Liquidation Commission, appointed by the Convention of the Association, effects liquidation of the Association’s activity. From the moment of appointing the Liquidation Commission there takes place the devolution of powers to the Commission as to administration of the Association. The Liquidation Commission estimates the Association’s property available, makes up the Liquidation Balance Sheet and submits it to the Convention.

8.3    Assets of the Association remaining after its liquidation are distributed in accordance with the effective legislation of Ukraine. Liquidation is regarded as completed and the Association as such that has discontinued its activity from the moment of its removal from the Public Register.

8.4 Members of the Association are not liable for obligations of the Association whereas the Association is not liable for obligations of its members.