Companies Law

1. A non-profit company shall use the profits realized from its activities in the areas of spending designated in its articles of incorporation or articles of association. The company may allocate some of its profits to maximize its investments and expand its operations as specified by the Regulations. 2. A non-profit company may not distribute any of its profits to the company’s members, managers, board members, or employees, unless such Companies Law distribution of profits is included in its areas of spending. The Regulations shall specify the maximum percentage of profits distributed in accordance with this paragraph. 3. A non-profit company may pay remuneration or any other reasonable benefits to its managers, board members, or employees in exchange for the services and work they provide to the company. 4. A non-profit company member may file a lawsuit with the competent judicial authority on behalf of the company to request the redemption of any profits distributed or disbursed in violation of the provisions of this Article. 5. A personal creditor of a member of a public non-profit company may not seek enforcement against the shares of such member or the rights associated therewith.