| (1) | If a fund-raising organization or registered branch discontinues its activities or if an authority or registration certificate granted to it has been withdrawn or has lapsed and the management thereof is not or cannot be so constituted in accordance with its constitution that the fund-raising organization or registered branch may be dissolved, the Director may dissolve such fund-raising organization or registered branch, and for this purpose the Director shall have all the powers of such management and shall in accordance with the constitution of such fund-raising organization or registered branch dispose of the assets of such fund-raising organization or registered branch. |
