Chapter V. Dissolution of the association
- Last Updated: Friday, 14 June 2013 08:50
Article 19 – Dissolution and Winding-Up of the Association
The Association may only be dissolved with the approval of the General Assembly which shall be convened especially for that purpose, pursuant to the rules prescribed in Article 11 of these Bylaws.
Once the Association has been dissolved, the last Executive Committee shall act as a Winding-Up Commission, except that the General Assembly shall determine who ultimately shall be responsible for presenting the final financial report to the General Assembly. The Winding-Up Commission shall sell as many assets as necessary to pay the Association’s debts, if such exist. Once the winding-up is completed, the remaining positive net shall be given to the International Red Cross.