CHAPTER X - DISSOLUTION AND LIQUIDATION

This document and/or information was originally written in Spanish, the official language of Uruguay, the country where LACNIC is legally incorporated and whose laws and regulations govern the organization. Likewise, unofficial information and/or documents are also written in Spanish, as this is the language in which most of LACNIC's advisors and officers work and communicate. We do our best to ensure that our translations are reliable and serve as a guide for our non-Spanish-speaking members. However, discrepancies may exist between the translations and the original document and/or information written in Spanish. In such cases, the original text written in Spanish will always prevail.

CHAPTER X

DISSOLUTION AND LIQUIDATION

ARTICLE 32:

The Assembly may not decree the dissolution of LACNIC as long as there is a number of members willing to support the organization and ensure the proper functioning of the organization's internal bodies. Should dissolution become effective, liquidators will be appointed. These liquidators may be the Board itself or any other member committee that the Assembly may appoint. The Fiscal Commission shall oversee the operations for the liquidation of LACNIC. Once debts are paid in full, the remaining assets will be assigned to a legally incorporated charity domiciled in the country and exempted from all national, state and municipal taxes. The recipient of such remaining assets shall be designated by the Assembly deciding the dissolution.

* Article modified by the Member Assembly held on 29 May 2008.

SYSTEM CERTIFICATION ISO 9001 LSQA

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