CHAPTER 3 Juridical Persons

Article 44. The following are juridical persons: (1)

The State and its political subdivisions;
(2) Other corporations, institutions and entities for
public interest or purpose, created by law; their
personality begins as soon as they have been
constituted according to law;
(3) Corporations, partnerships and associations for
private interest or purpose to which the law grants
a juridical personality, separate and distinct from
that of each shareholder, partner or member. (35a)
Article 45. Juridical persons mentioned in Nos. 1
and 2 of the preceding article are governed by the
laws creating or recognizing them.
Private corporations are regulated by laws of
general application on the subject.
Partnerships and associations for private interest
or purpose are governed by the provisions of this
Code concerning partnerships. (36 and 37a)
Article 46. Juridical persons may acquire and
possess property of all kinds, as well as incur
obligations and bring civil or criminal actions, in
conformity with the laws and regulations of their
organization. (38a)
Article 47. Upon the dissolution of corporations,
institutions and other entities for public interest or
purpose mentioned in No. 2 of article 44, their
property and other assets shall be disposed of in
pursuance of law or the charter creating them. If
nothing has been specified on this point, the
 property and other assets shall be applied to
similar purposes for the benefit of the region,
province, city or municipality which during the
existence of the institution derived the principal
benefits from the same. (39a)