Regulations on Disposal of the Financial Affairs of Social Associations Article 21

All the account books, accounting documents, and accounting reports of a social organization, except those which shall be permanently kept or which are related to unsettled accounting events, shall be kept for at least ten (10) years after thecompletion of annual closing procedures.Upon expiration of the specified term of storage, the financial archives listed in the preceding paragraph may be destroyed after being verified by the board of supervisors. In special occasions, the term of storage may be prolonged with the consent given inthe respective meetings of the board of directors and the board of supervisors or a joint meeting of directors and supervisors.