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(1) A party is wound up
a) by voluntary winding up;
b) by merging with another party;
c) by a declaration of bankruptcy or the dismissal of a
bankruptcy motion due to a lack of assets;
d) by a valid Supreme Court ruling on the dissolution of
the party; or
e) for other reasons stipulated herein (§8, section 5 and
§ 34, section 4).
(2) Following the winding up of a party, its bodies may only perform competencies related to the party's winding up, unless their competencies have been transferred to a legal successor or liquidator.