Institutional Long-Term Care Juridical Entities Act Article 23

A long-term care foundation shall submit articles of endowment, an incorporation plan, and relevant documents to the competent authority to apply for approval of the establishment thereof.The eleemosynary founder or executor of a will shall, within thirty days of approval of the aforesaid application, appoint directors and form a board of directors in accordance with the articles of endowment, and shall, within thirty days from the day when the board of directors is formed, submit the list of directors to the competent authority for approval. The eleemosynary founder or executor of a will shall, within thirty days of approval, apply to the competent district court for registration as a legal organization, and shall, within fifteen days of issuance of a registration certificate by the court, submit a photocopy of the certificate to the competent authority for recordation purposes. This rule shall also apply in case of any change in registered particulars.The eleemosynary founder or executor of a will shall, within three months from the day when the long-term care foundation completes registration with the court, transfer the ownership of all properties endowed to the long-term care foundation and report such transfer to the competent authority for recording purposes.If the eleemosynary founder or executor of a will fails to transfer the ownership of properties endowed to the long-term care foundation within the deadline, the competent authority shall require the said person to complete such transfer within a specified period. If the said person still fails to do so within the specified period, the competent authority may revoke the approvals issued.