(a) The corporation shall cease to exist:\n(1) On the date established in the certificate of incorporation when its extinction is stated therein;\n(2) when it is absorbed by another corporation by merger or consolidation, pursuant to the provisions of this chapter; Provided, That a special employee-owned corporation shall only merge or consolidate with other corporations that are organized under the provisions of this chapter at the time of the merger or consolidation, or pursuant to the provisions of § 3879 of this title;\n(3) upon dissolving the corporation pursuant to the provisions of Chapter 229 of this subtitle, and\n(4) when the corporation fails to comply with the provisions of this subtitle and the Secretary of State issues an order to dissolve the corporation.\nHistory —Dec. 16, 2009, No. 164, § 16.11.
Puerto Rico Legal Code