Article 43 — Status and seat of a SEAP

1. A SEAP shall have legal personality as from the date on which the implementing act establishing it takes effect. 2. A SEAP shall have in each Member State the most extensive legal capacity accorded to legal entities under the law of that Member State, in particular the capacity to acquire, own and dispose of movable property, immovable property and intellectual property, conclude contracts and be a party to legal proceedings. All Member State national funding agencies shall consider a SEAP an eligible recipient of national financial contributions. 3. A SEAP shall have a statutory seat, which shall be located on the territory of a Member State.