47-1A-925. Abandonment of a domestication of domestic business corporation.
147 words·~1 min read·
/sd/title-47/chapter-47-1/47-1a-925A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Unless otherwise provided in a plan of domestication of a domestic business corporation, after the plan has been adopted and approved as required by §§ 47-1A-920 to 47-1A-925 , inclusive, and at any time before the domestication has become effective, it may be abandoned by the board of directors without action by the shareholders.
If a domestication is abandoned under this section after articles of charter surrender have been filed with the Office of the Secretary of State but before the domestication has become effective, a statement that the domestication has been abandoned in accordance with this section, executed by an officer or other duly authorized representative, shall be delivered to the Office of the Secretary of State for filing prior to the effective date of the domestication. The statement shall take effect upon filing and the domestication shall be deemed abandoned and does not become effective.