Commercial Companies Law

Article 302 — Article (302) General Reasons for the Termination of Companies

Part Eight: Termination of the Company's MOA · Chapter One: Reasons for Termination of Companies

Subject to the provisions on termination of companies, a Company shall be dissolved for any of the following reasons: 1. Expiration of the term specified in the MOA or AOA of the Company, unless such a term is renewed in accordance with the rules set out in either document; 2. Fulfillment of the objects for which the Company has been established; 3. The depletion of all or most of the Company's assets, making it impossible to beneficially invest the remainder; 4. Merger in accordance with the provisions of this Decree Law; 5. The unanimous agreement of the partners to terminate the term of the Company, unless the MOA provides that a specific majority shall suffice; or 6. A court order is issued to dissolve the Company.

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