10-1401. Dissolution by incorporators or initial directors
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/az/title-10/10-1401A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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 commission for filing the articles of dissolution. An incorporator or an initial director, whose signature shall be acknowledged, shall execute the articles of dissolution, and the articles shall set forth all of the following:
1. The name of the corporation.
2. The date of its incorporation.
3. Either:
(a)That none of the corporation's shares have been issued.
(b)That the corporation has not commenced business.
4. That no debt of the corporation remains unpaid.
5. That the net assets of the corporation remaining after winding up have been distributed to the shareholders, if shares were issued.
6. That a majority of the incorporators or initial directors authorized the dissolution.