Article 123.21: Basic provisions on institutions

1. The institution shall be recognized as a unitary non-profit organization established by the owner to perform managerial, sociocultural or other functions of a non-profit nature. The owner of the property of the institution established by him/her shall have the right to the property assigned by the owner to the institution and acquired by the institution on other grounds. 2. The institution may be established by a citizen or a legal person (private institution) or, as appropriate, by the Russian Federation, an entity of the Russian Federation. 3. When establishing an institution, several persons may not be co-founded. In the event of a lack of such funds or assets, a subsidiary of the Commission shall be entitled to the payment of the amount of money in its possession and, in the cases established by law, to other property. The owner of the relevant property shall be liable for the obligations of the institution in the cases provided for in article 123.22, paragraphs 4 to 6, and 123.23, paragraph 2, of the present Code. In the cases and in the manner prescribed by law, the head of a public or municipal institution may elect to serve as the head of the institution. By decision of the founder, the institution may establish collegiate bodies accountable to the founder. Decisions, their creation and their decision-making are determined by the law and by the statute of the institution.