XIII. Termination of the Association

104.  The Association shall be terminated, by virtue of ending of its purpose, or being merged, divided, dissolved either by courts or voluntary, upon the time when the plan for termination is formulated by the Board and agreed in a vote at a General Meeting of Members and finally so registered in the Department of Registration and Administration for Societies of the People’s Republic of China. 

105. A liquidating group shall be organized under the relevant laws when the Association is terminated to liquidate the credits and debits of the Association and to deal with any consequential matters thereof. The Association shall not be engaged in any activities other than liquidation during the period of liquidation.

106. Every Member shall in the event of the termination of the Association, whether terminated by courts or voluntary, pay all moneys which he has owed to the Association (including Calls, Fixed Premiums and any sum due from him to the Association). Any such Calls or Fixed Premiums shall be calculated up to the date of the termination of the Association declared.

107. After liquidation of the credits and debits of the Association, every Member, except those described as per provision of Bye-Law 108 below, shall be entitled to apportionment of the remaining assets of the Association. The apportionment shall be made among the Members in such proportion as the Calls that he has paid in full to the Association in the year during which the Association is terminated bears to the aggregate of the Calls that all the Members have paid for that year, or in accordance with such a fair and equitable manner that the liquidating group decides.