Alqanoni

Civil Transactions Law

Art. 549
Status unknownSaudi ArabiaRegulation

Issued by Ministry of Investment (misa.gov.sa)

1. The company's assets shall be liquidated and divided pursuant to the proceedings agreed upon by the partners. 2. If the partners fail to agree on the liquidation proceedings, any person with interest may petition the court for liquidation and distribution of proceeds. The court may specify the liquidation proceedings, taking into consideration the nature of the assets to be liquidated, and may, if necessary, appoint a liquidator. 3. Division of company assets shall be subject to the rules relating to the division of property owned in common. Civil Transactions Law Section 2: Mudaraba Contract Subsection 1: Establishing a Mudaraba Contract

The Arabic text is the legally binding version. The English translation is provided for guidance only.

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