Article 47

RA 386 · Civil Code of the PhilippinesKey provision

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Upon the dissolution of corporations, institutions and other entities for public interest or purpose mentioned in No.

Official text — RA 386

Upon the dissolution of corporations, institutions and other entities for public interest or purpose mentioned in No. 2 of article 44, their property and other assets shall be disposed of in pursuance of law or the charter creating them. If nothing has been specified on this point, the property and other assets shall be applied to similar purposes for the benefit of the region, province, city or municipality which during the existence of the institution derived the principal benefits from the same. (39a)

TITLE II

CITIZENSHIP AND DOMECILE

Source: lawphil.net (RA 386 as amended)

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