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in place of the removed directors or board of directors of the foundation. When the court has ordered appointing any person as a director of a foundation, the registrar shall proceed with the registration accordingly.

Section130.A foundation is dissolved by any of the following causes:

(1)when there occurs a cause as designated in the articles of incorporation;

(2)if the foundation is established for any period of time, when such period of time ends;

(3)if the foundation is established for any purpose, when the purpose has been completely completed or the purpose has become impossible;

(4)when the foundation becomes bankrupt;

(5)when a court orders its dissolution according to section 131.

Section131.Any registrar, public prosecutor, or interested person may request a court to order dissolving a foundation in any of the following events:

(1)when it appears that the purposes of the foundation are contrary to the law;

(2)when it appears that the foundation breaches the law or public good morals or may be harmful to public peace or state security;

(3)when it appears that the foundation is unable to continue the operation of its affairs for any reason or has discontinued the operation of its affairs for two or more years.

Section132.When there occurs a cause by which a foundation must be dissolved according to section 130(1), (2), or (3), the board of directors incumbent at the time of the dissolution shall notify a registrar of the dissolution within fourteen days from the day of the dissolution.

In the event that a court has issued a final judgment or order adjudging a foundation bankrupt according to section 130(4) or a final order dissolving a foundation according to section 131, the court shall notify a registrar of the said judgment or order for his information.

The registrar shall publish the dissolution of a foundation in the Royal Gazette.

Section133.In the event that a foundation is dissolved, the foundation shall be liquidated and the provisions of Title 22 of Book 3 regarding liquidation of registered partnerships, limited partnerships, and limited companies shall apply mutatis mutandis to the liquidation of the foundation. However, the liquidator shall submit the liquidation report to a registrar and the registrar shall approve the report.