FOUNDATION
Sample Articles of Association
Article I
Name and registered seat
Under the name
Name of the foundation
A foundation with a registered seat in the principality of Liechtenstein is established pursuant to Art. 552 ff of Liechtenstein Persons and Company Law (PGR).
The duration of the foundation is unlimited (or limited to….) with respect to time.
Article II
Foundation Assets
The Foundation assets (working funds) amount to CHF 30000, - . The complete power of disposal over the assets belongs to the foundation.
The Foundation's assets are solely liable for its debts.
Article III
Purpose of the Foundation
The purpose of the Foundation is to grant benefits to the persons declared in the by-laws. The foundation board shall establish the by-laws, in which the beneficiaries shall be named.
Article IV
Foundation Board
The Foundation is administered by the Foundation Board, made up of one or more members authorized to carry out business activities and represent the foundation to third persons as well as national and international authorities.
The Foundation Board designates the persons entitled to represent the foundation, as well as the scope of the authority of these persons.
The Foundation Board has the ability to transfer the powers to one or several persons outside of the Foundation Board.
Article V
Amendment of Articles, Dissolution of the Association
The Foundation Board is authorized to amend or add to these articles at any time.
The Foundation Board is legally entitled to dissolve the foundation at any time. This decision must be unanimous.
The Foundation Board decides how the assets of the Foundation are to be utilized. It is entitled to transfer the assets and to take all necessary legal steps to preserve the capital for the beneficiaries.
Article VI
Notices
Legal notices will be issued as regulated and required by law
Date, Signature
