ON THE DISSOLUTION OF THE ASSOCIATION AND APPLICATION OF THE NET ASSETS
Article 42.- The Association shall be dissolved in the following cases:
1. On the request of the associates, expressed in Extraordinary General Assembly called for this purpose, with the positive vote of the absolute majority of those present.
2. End of the period or compliance of the condition set in the Rules of association
3. The absorption or merger with other associations.
4. The lack of the legally established minimum number of associates.
5. By firm judicial sentence that establishes the dissolution.
6. The impossibility of complying with the Association’s aims.
Article 43.- In the event the Association is dissolved, the Extraordinary General Assembly that agrees the dissolution, shall appoint a Settlement Commission, composed of five members extracted from the Board of Directors, which shall be responsible for the funds that exist.
Once the Association’s social obligations to the associates and third parties have been meet, the remaining net assets, if any, shall be handed over to a non-profit organisation for non-profit purposes.