Private School Act Enforcement Rules Article 46

When a school's corporate body donates all of its property to the government or another school's corporate body pursuant to Article 72, Paragraph 1 Subparagraph 3 of the Act, the board shall make a resolution pursuant to Article 32, Paragraph 1 Subparagraph 5 of the Act, and shall dissolve and liquidate the school in accordance with the law after obtaining the corporate body's competent authority's approval.Before the corporate body's competent authority grants its approval as prescribed in the foregoing paragraph, it shall examine the school's organizational charter or donors' intent, and the state of the school's personnel affairs and finances, etc.