Paragraph 4: Dissolution and liquidation.

The company terminates on expiry of the period for which it was formed. However, early dissolution may be decided by at least three quarters of the members together holding three quarters of the votes.

The company is dissolved ipso jure by the simultaneous death of all the partners or by the death of the last surviving partner if all of them have died successively, without, at the date of death of the last of them, the shares or capital securities of the others having been transferred to third parties.

The liquidation is governed by the Articles of Association, subject to the provisions of the Civil Code, and those of Book II and this paragraph of this Code.

Except in the event of the company being struck off, the liquidator may be chosen from among the partners. The duties of liquidator may not be entrusted to an auditor who has been the subject of a disciplinary measure.

Several liquidators may be appointed. The deed appointing the liquidator, in whatever form, shall be sent by the liquidator to the High Council. The judicial decision or the decision of the shareholders’ meeting appointing the liquidator shall set his remuneration.

The liquidator shall inform the High Council of the closure of the liquidation.