Section 119.- In case of the will that contains the testamentary disposition does not have such particulars as provided in Section 112 (1) (3) (5) or (6), the applicant under Section 118 can stipulate the said particulars. If any interested person make a protest against the applicant, the Registrar shall give an order as he thinks fit and notify the applicant and the protester of the order, and also inform them that should the applicant or the protester not be satisfied with the said order, he can file a protest with the Court within sixty days as from the date of receipt of the notification from the Registrar. The Registrar shall not consider the registration but wait for the judgement or order of the Court and comply therewith. If no protest is filed within the time limit, the Registrar shall consider the registration according to the order given.

 

Section 120.- If there are many applicants for registration of the foundation under the will of the same de cujus, and the applications contradict each other, the Registrar shall summon the applicants for making an agreement within a period of time fixed by the Registrar, the Registrar shall give an order as he thinks fit, and the provisions of Section 119 shall be applied,  mutatis mutandis.  

 

Section 121.- After registration of the foundation, the property appropriated therefore shall, if the applicant for creating the foundation is still alive, vest in the foundation as from the date of registration of the foundation by the Registrar.

In case of the applicant for creating a foundation dies before the registration of the foundation by the Registrar, the property appropriated therefore shall, after the registration, vest in the foundation from the death of the applicant.

 

Section 122.- The foundation so registered is a juristic person.

 

Section 123.- A foundation is represented in its relations with third persons by its committee.

 

Section 124.- All activities performed by the Committee of the foundation are valid even though it appears afterwards that there is any fault concerning the appointment or qualification of directors of foundation.

 

Section 125.- The appointment of new directors of the foundation or the alteration thereof shall be made in accordance with the regulations of the foundation and must be registered within thirty days as from the date of such appointment or alteration of the directors of the foundation.

If it is considered by the Registrar that any of the directors under paragraph one does not have status or conduct suitable for implementing the objects of the foundation, the Registrar may refuse the registration of that director. In case of refusal, the Registrar shall notify the foundation of reasons for such refusal within sixty days as from the date of application, and the provisions of Section 115 paragraph four and paragraph five shall be applied, mutatis mutandis.

In case of the directors of the foundation vacate their office and no director is remaining, or the remaining directors are unable to perform their duties, the directors, who have vacated their office shall, if no regulations of the foundation provides otherwise, perform further the duties of directors until the foundation is notified by the Registrar of the registration of the new directors.

The director, who has vacated his office on account of dismission by the order of the Court under Section 129, cannot perform the duty under paragraph three.