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Chapter VI. Law of the People’s Republic... > Disbandment and Liquidation of Partn...

Disbandment and Liquidation of Partnership Enterprises

Article 57 A partnership enterprise shall be disbanded under any of the following circumstances:

  1. The period of operation as agreed upon in the partnership agreement expires and partners are unwilling to continue the operations;

  2. The facts resulting in the disbandment as agreed upon in the partnership agreement occur;

  3. The disbandment has been decided upon by all the partners;

  4. Partners have not formed the statutory number;

  5. The purpose of partnership has been achieved or cannot be achieved as agreed upon in the partnership agreement;

  6. The business licence has been revoked according to law;

  7. Other reasons stipulated in laws and administrative regulations for the disbandment of the partnership enterprise arise.

Special Provisions on One-person Limited Liability Companies


  

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