TITLE 30

CORPORATIONS

CHAPTER 29

GENERAL BUSINESS CORPORATIONS

PART 14

DISSOLUTION

30-29-1401.  DISSOLUTION BY INCORPORATORS OR INITIAL DIRECTORS. A majority of the incorporators or initial directors of a corporation that has not issued shares or has not commenced business may dissolve the corporation by delivering to the secretary of state for filing articles of dissolution that set forth:

(a)  The name of the corporation;

(b)  The date of its incorporation;

(c)  Either:

(1)  That none of the corporation’s shares has been issued; or

(2)  That the corporation has not commenced business;

(d)  That no debt of the corporation remains unpaid;

(e)  That the net assets of the corporation remaining after winding up have been distributed to the shareholders, if shares were issued; and

(f)  That a majority of the incorporators or initial directors authorized the dissolution.

History:

[30-29-1401, added 2015, ch. 243, sec. 69, p. 956; am. 2019, ch. 90, sec. 145, p. 319.]