Article 65: Insolvency (banking) of a legal person

1. A legal person, with the exception of an office, an institution, a political party and a religious organization, may, by a court decision, be declared insolvent (bank). A State company or company may be declared insolvent (bank) if permitted by federal law providing for its establishment. Riznan is insolvent (bankroth) if this is established by law providing for the establishment and operation of such a fund; a public-law company cannot be declared insolvent (bank). 2. It has lost its force. 3. The grounds for the court ' s finding that the legal person is insolvent (bankroth), the procedure for the liquidation of the legal entity. The insolvency (banking) law determines the priority of meeting the claims of creditors.