Why should the property be replaced by another company and legal person?

The general company changes its legal representative for the following reasons:

1. The shareholding ratio of the current legal representative is exceeded by others, resulting in the change of the company as a legal person.

2. The company wanted to cancel and was afraid of trouble, so it replaced the legal person with someone else.

3. If the legal representative changes, the company needs to change its legal person.

4. The legal person resigns, or the post is transferred.

5. The legal person dies or is dissolved due to negligence.

6. The legal person fails to perform its duties or cannot perform its duties.

According to Article 175 of the Company Law of People's Republic of China (PRC), when a company is divided, its property shall be divided accordingly. When the company is divided, it shall prepare a balance sheet and a list of assets. The company shall notify the creditors within 10 days from the date of making the resolution of separation, and make an announcement in the newspaper within 30 days.