A usufruct established in favor of a juridical person terminates if the juridical person is dissolved or liquidated, but not if the juridical person is converted, merged or consolidated into a successor juridical person. In any event, a usufruct in favor of a juridical person shall terminate upon the lapse of thirty years from the date of the commencement of the usufruct. This Article shall not apply to a juridical person in its capacity as the trustee of a trust.
Article 608 active cc book
Dissolution of juridical person; thirty year limitation ACTIVE
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References
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Cited by
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History
- enactment Acts 1976, No. 103, §1
- amendment Acts 2010, No. 881, §1, eff. July 2, 2010