273.347 Decree of involuntary dissolution.

176 words·~1 min read·/ky/chapter-273/273-347

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)In a proceeding to liquidate the assets and affairs of a corporation, when the costs

and expenses of such proceeding and all debts, obligations, and liabilities of the

corporation shall have been paid and discharged and all of its remaining property

and assets distributed in accordance with the provisions of KRS 273.161 to

273.390, or in case its property and assets are not sufficient to satisfy and discharge

such costs, expenses, debts, and obligations, and all the property and assets have

been applied so far as they will go to their payment, the court shall enter a decree

dissolving the corporation.

(2)The clerk of the court shall cause a certified copy of a decree entered under

subsection

(1)of this section to be filed with the Secretary of State. No fee shall be

charged by the Secretary of State for the filing thereof. The dissolution shall be

effective upon the latter of the date of filing of the decree by the Secretary of State

or such later date as is specified in the decree.