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Commercial Act — Article 531 (Appointment of Liquidators)

상법 제531조

This English translation is based on the Korean text effective 2018-12-19. The Korean law has since been amended (current version effective 2026-09-10) — check the Korean original.

(1) Upon dissolution of a company, except in cases of dissolution by a merger, division, merger after division, or bankruptcy, directors shall become liquidators: Provided, That this shall not apply if otherwise provided for in the articles of incorporation or if other persons have been appointed at a general meeting of shareholders. <Amended by Act No. 5591, Dec. 28, 1998>

(2) If there is no liquidator under the preceding paragraph, the court shall appoint a liquidator upon request of any interested person.

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