Defendants are not guilty.

1. The summary of the facts charged in the instant case is as follows: (a) the Defendants, other than those stipulated in the budget in the process of managing the affairs of the said association; (b) the Defendants, despite having to undergo prior resolution by the general meeting, notified the Corporation that the agreement that would be borne by the union members should suspend loans to the association upon the occurrence of an agreement on the additional construction cost with the contractor; (c) around July 14, 201, the Defendants, without the resolution of the general meeting of the union members, sold to KRW 601,453,410 national housing bonds, which are the property of the association, for the purpose of raising interest on loans to the association, without the resolution of the general meeting of the union members; and (d) obtained loans equivalent to KRW 2 billion.

2. The Defendants asserted that the Defendants’ act of selling a national housing bond, which is a union’s property, does not constitute “a contract to become a partner other than the matters stipulated in the budget” under Article 24(3)5 of the Act on the Improvement of Urban and Residential Environments, and that the Defendants’ act does not violate the Act on the Improvement of Urban and Residential Environments, on the grounds that the Defendants’ act was not a violation of the Act on August 27, 201, since the Defendants’ act of selling the real estate in this case,

3. Determination: ① “a contract that becomes a partner's burden” under Article 24(3)5 of the Act on the Improvement of Urban and Residential Environments means a contract under which a partner pays money or bears a debt beyond the items and scope set out in the budget of the partnership, which imposes a burden on the partner's expenses. The purport of the above provision is to ensure that the partner's intent is reflected in matters that directly affect the rights and obligations of the union members. The sale of the partnership's property is a procedural guarantee.