§ 1106. Order to show cause; issuance; publication, service, filing.

411 words·~2 min read·/ny/business-corporation/judicial-dissolution/1106·

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

(a)Upon the presentation of such a petition, the court shall make an

order requiring the corporation and all persons interested in the

corporation to show cause before it, or before a referee designated in

the order, at a time and place therein specified, not less than four

weeks after the granting of the order, why the corporation should not be

dissolved. In connection therewith, the court may order the corporation,

its officers and directors, to furnish the court with a schedule of all

information, known or ascertainable with due diligence by them, deemed

pertinent by the court, including a statement of the corporate assets

and liabilities, and the name and address of each shareholder and of

each creditor and claimant, including any with unliquidated or

contingent claims and any with whom the corporation has unfulfilled

contracts.

(b)A copy of the order to show cause shall be published as prescribed

therein, at least once in each of the three weeks before the time

appointed for the hearing thereon, in one or more newspapers, specified

in the order, of general circulation in the county in which the office

of the corporation is located at the date of the order.

(c)A copy of the order to show cause shall be served upon the state

tax commission and the corporation and upon each person named in the

petition, or in any schedule provided for in paragraph (a), as a

shareholder, creditor or claimant, except upon a person whose address is

stated to be unknown, and cannot with due diligence be ascertained by

the corporation. The service shall be made personally, at least ten days

before the time appointed for the hearing, or by mailing a copy of the

order, postage prepaid, at least twenty days before the time so

appointed, addressed to the person to be served at his last known

address.

(d)A copy of the order to show cause and the petition shall be filed,

within ten days after the order is entered, with the clerk of the county

where the office of the corporation is located at the date of the order.

A copy of each schedule furnished to the court under this section shall,

within ten days thereafter, be filed with such clerk.

(e)Publication, service and filing provided for in this section shall

be effected by the corporation or such other persons as the court may

order.