Legal basis: Civil Code of People's Republic of China (PRC).
Article 66 The registration authority shall publish the relevant information of legal person registration in a timely manner according to law.
Article 67 Where a legal person is merged, its rights and obligations shall be enjoyed and assumed by the merged legal person.
Where a legal person is divided, its rights and obligations shall be jointly claimed by the divided legal person, unless otherwise agreed by the creditor and the debtor.
Article 68 If a legal person completes liquidation and cancellation of registration according to law for one of the following reasons, it shall be terminated:
(1) The legal person is dissolved.
(2) The legal person is declared bankrupt;
(3) Other reasons prescribed by law.
Where laws and administrative regulations stipulate that the termination of a legal person shall be approved by the relevant authorities, such provisions shall prevail.