Transformation of a company or cooperative

In the case of a merger or division of a company or a cooperative or in the case of a transfer of assets to a member, the trade authorisations of the dissolved or divided company or cooperative terminate, except in cases where the successor legal person or the acquiring member notifies their intention to continue the trade of the dissolved or divided entity and meets other conditions prescribed by law (hereinafter the “continuing person”).

Each trade of a dissolved or divided legal person may be continued by more than one continuing persons. If no one notifies the trade licensing office of their intention to continue a specific trade within the statutory time limit, the trade authorisation for that trade terminates as of the date of the entry into force of the merger or division or the transfer of assets to a member.