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...or institution having objects similar to the company, and which is prohibited from distributing its income and property among its members. This transfer is typically done with the approval of the Corporate Affairs Commission (CAC) or a court order.
Therefore, upon the dissolution of the "Sale John Center for Medical Research and Innovation" if registered as a CLG, any remaining assets after paying off all debts and liabilities cannot be taken by Sale John or any other member. They must be transferred to another non-profit entity with similar objectives.
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