§ 1001. Authorization of dissolution.
146 words·~1 min read·
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§ 1001. Authorization of dissolution.
(a)A corporation may be dissolved under this article. Such
dissolution shall be authorized at a meeting of shareholders by
(i)for
corporations the certificate of incorporation of which expressly
provides such or corporations incorporated after the effective date of
paragraph
(b)of this section, a majority of the votes of all
outstanding shares entitled to vote thereon or
(ii)for other
corporations, two-thirds of the votes of all outstanding shares entitled
to vote thereon, except, in either case, as otherwise provided under
section 1002 (Dissolution under provision in certificate of
incorporation).
(b)Any corporation may adopt an amendment of the certificate of
incorporation providing that such dissolution shall be authorized at a
meeting of shareholders by a specified proportion of votes of all
outstanding shares entitled to vote thereon, provided that such
proportion may not be less than a majority.