Companies Law

1. A public non-profit company shall take the form of a joint-stock company and it may not take any other form. The profits realized from carrying out its activities shall be used in non-profit areas of spending that exclusively serve the community. The Ministry shall, in coordination with the National Center for Non-Profit Sector, designate such areas. 2. A private non-profit company shall take the form of a limited liability company, joint-stock company, or simplified joint-stock company, and it may not take any other form. The profits realized from carrying out its activities shall be used in non-profit areas of spending. 3. A non-profit company shall not offer its shares for public subscription. 4. Absent a specific provision in this Part, a non-profit company shall be subject to the provisions relating to its form in a manner not inconsistent with its nature.