ESTABLISHMENT

Sample By-laws

According to Art. 7 of the statutes, the board of directors enacts the following by-laws.

Art. 1

Name: .............................................

Born on: .............................................

Address: ..............................................

The above stated is the sole beneficiary of the income of the Establishment and its assets for the duration of his life.

Art. 2

After the death of the person declared in Art. 1, all rights to the income and assets of the establishment shall be transferred to the following person.

Name: .............................................

Born on: .............................................

Address: .............................................

Art. 3

In the case that the beneficiary declared in Art. 2 dies before obtaining his rights as the beneficiary, his rights shall be transferred to his offspring.

Place, date

The board of directors