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Article 123.20: Amendment of the statute and liquidation of the fund

📅 Updated: 30.09.2026

1. The statute of the fund may be amended by the supreme collegiate body of the fund if the statute does not provide for the possibility of its modification by decision of the founder. In the event that the fund ' s statute is maintained in its entirety with consequences, the Fund ' s authority or the public authority authorized to supervise the fund ' s operation shall, at the request of the fund ' s bodies, be maintained. 2. The fund may be dissolved only by a court decision, and the highest collegiate body of the fund or the founder of the fund shall not change its statute. In the case of: (1) the assets of the fund are insufficient for the purpose of the fund and the likelihood of obtaining the necessary assets is not feasible; (2) the purposes of the fund are not within the limits of the fund. (c) The fund shall be capable of being achieved and the necessary changes in the purposes of the fund shall not be made; (3) the fund shall in its activities deviate from the purposes provided for in the statute; (4) in other cases provided for by 3. In the event of the liquidation of the fund, the property remaining after the satisfaction of the creditors ' claims shall be allocated to the purposes specified in the fund ' s statute, except where the law so requires. The return of such property to the founders of the fund is pending.