Some legal principles for termination of charities

The article reveals some legal principles of termination of charitable organizations.It is proven that the consequences of termination of a charitable organization (reorganization or liquidation) have differences in legal aspects.In the event of reorganization, the assets of a charitable organization are transferred to its successors, which, according to the direct norm of the Law, can be one or more charitable organizations.In the event of liquidation of a charitable organization, all its assets remaining after satisfying the creditors' claims are subject to transfer to one or more charitable organizations.The procedure for such transfer is determined in the statutory documents or in a court decision.If there are no charitable organizations to which the assets remaining after settlements with creditors can be transferred, these assets must be directed to the State Budget of Ukraine.During the termination of a charitable organization through reorganization, legal succession occurs, that is, the rights and/or obligations of the organization being terminated are transferred to the newly created organization(s).An essential aspect inherent only to charitable organizations is the subject composition during reorganization.According to the requirements of the previous Law of Ukraine "On Charity and Charitable Organizations", the reorganization of a charitable organization into a legal entity, the purpose of which is to make a profi t, was prohibited.That is, a charitable organization could be reorganized, for example, into a nonprofi t public organization or a credit union.This situation led to the fact that the assets belonging to the reorganized charitable organization could - , ORCID: https://orcid.org/0000