1. Legal entities, except for institutions financed by the owner, are liable for their obligations with all property belonging to them. 2. The state-owned enterprise and the institution financed by the owner are liable for their obligations in the manner and on the conditions provided for by paragraph 5 of Article 113, Articles 115 and 120 of this Code. 3. The founder (participant) of the legal entity or the owner of its property is not liable for the obligations of the legal entity, and the legal entity is not responsible for the obligations of the founder (participant) or owner, except as otherwise provided by this Code or the constituent documents of the legal entity. If the insolvency (bankruptcy) of a legal entity is caused by the founders (participants), the owner of the property of a legal entity or other persons who have the right to give instructions binding on that legal entity or otherwise have the ability to determine its actions, such persons in case of insufficiency of the legal entity’s property can subsidiary liability is assigned to its obligations.