CH14 - Chapter Fourteen Termination of Corporate E xistence...

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Chapter Fourteen Termination of Corporate Existence
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Corporate Dissolution Dissolution Dissolution : : Termination of the legal status of an entity. Voluntary dissolution : dissolution initiated by a corporation’s directors or shareholders
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Articles of Dissolution Slide 1 of 2 Articles of dissolution: final document filed with state effecting termination of an entity (also called certificate of dissolution) Articles generally set forth the following: Name of the corporation Date dissolution was authorized That the dissolution was approved by the requisite shareholder vote (or that the corporation has not issued shares and therefore it is being dissolved by the incorporators)
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Articles of Dissolution Slide 2 of 2 In some states : That all debts, obligations, and liabilities of the corporation have been paid or discharged or adequate provision has been made therefor; and That the corporate assets have been distributed to the persons entitled thereto
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This note was uploaded on 01/06/2012 for the course PARA 092 taught by Professor Stephanieferill during the Fall '11 term at DeAnza College.

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CH14 - Chapter Fourteen Termination of Corporate E xistence...

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