Section 14.01: Dissolution by incorporators or initial directors
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/ma/part-i/title-xxii/chapter-156d/14·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 14.01. 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:
(1)the name of the corporation;
(2)the date of its incorporation;
(3)either
(i)that none of the corporation's shares has been issued or
(ii)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; and
(6)that a majority of the incorporators or initial directors authorized the dissolution.