Private School Act Article 67
When a school legal person merges with another school legal person or a private school merges with another private school, the school legal persons shall draw up a merger plan and contract, and submit them to the competent authority of legal persons along with CPA-certified balance sheets and asset lists for approval. The legal person authority shall consult the consultative committees of said private schools before deciding to approve the merger.The school legal person that remains or the new school legal person established after the merger shall inherit the rights and obligations of the school legal person(s) that cease to exist. The school that remains or the new school established after the merger shall inherit the rights and obligations of the school(s) that cease to exist.Within 15 days after receiving the approval mentioned in the first paragraph, the school legal person shall prepare and publish the consolidated financial statements and asset lists, and separately notify known creditors of the merger. Creditors object to the merger shall raise their written objection within two months after the publication. Creditors fail to do so shall be considered to have accepted the merger.The school legal person shall do the following to respond to creditors raising objection:1. Pay off liabilities that are due.2. Provide adequate assurance for liabilities not yet due.School legal persons failing to notify creditors of said mergers, publish as required in Paragraph 3, settle outstanding liabilities, or provide adequate assurance as mentioned in the preceding paragraph may not use the mergers to counter creditors' claims.
中文原文 私立學校法第67條
學校法人與其他學校法人合併，或私立學校與其他私立學校合併時，各該學校法人應就合併有關事項，擬訂合併計畫、合併契約，並檢具經會計師查核簽證之資產負債表及財產目錄，報經法人主管機關核定後辦理；法人主管機關核定前，應徵詢私立學校諮詢會意見。
學校法人間進行合併者，合併後存續或新設之學校法人，繼受因合併而消滅之學校法人之權利義務；學校間進行合併者，由合併後存續或新設之私立學校，繼受因合併而消滅私立學校之權利義務。
學校法人應於第一項核定後十五日內，造具並公告有關合併之財務報表及財產目錄；對已知債權人並應個別通知；債權人對合併有異議者，應於公告後二個月內以書面提出異議，未提出異議者，視為承認合併。
債權人依前項提出異議者，學校法人應依下列方式辦理：
一、債務已屆清償期者，清償其債務。
二、債務未屆清償期者，提供相當擔保。
學校法人不為第三項之公告及通知，或不為前項之清償、提供相當擔保者，不得以其合併對抗債權人。
學校法人間進行合併者，合併後存續或新設之學校法人，繼受因合併而消滅之學校法人之權利義務；學校間進行合併者，由合併後存續或新設之私立學校，繼受因合併而消滅私立學校之權利義務。
學校法人應於第一項核定後十五日內，造具並公告有關合併之財務報表及財產目錄；對已知債權人並應個別通知；債權人對合併有異議者，應於公告後二個月內以書面提出異議，未提出異議者，視為承認合併。
債權人依前項提出異議者，學校法人應依下列方式辦理：
一、債務已屆清償期者，清償其債務。
二、債務未屆清償期者，提供相當擔保。
學校法人不為第三項之公告及通知，或不為前項之清償、提供相當擔保者，不得以其合併對抗債權人。