16-6a-1417. Decree of dissolution.

213 words·~1 min read·/ut/title-16/chapter-6a/16-6a-1417·

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

Effective 7/1/2024

(1)As used in this section:

(a)"Decree of dissolution" includes an order of a court entered in a proceeding under Section 16-6a-1414 that directs that the affairs of a nonprofit corporation be wound up and liquidated under judicial supervision.

(b)"Judicial proceeding to dissolve the nonprofit corporation" includes a proceeding brought under Section 16-6a-1414 .

(2)If after a hearing the court determines that one or more grounds for judicial dissolution described in Section 16-6a-1414 exist:

(a)the court may enter a decree:

(i)dissolving the nonprofit corporation; and

(ii)specifying the effective date of the dissolution; and

(b)the clerk of the court shall deliver a certified copy of the decree to the division which shall file it accordingly.

(3)After entering the decree of dissolution, the court shall direct:

(a)the winding up and liquidation of the nonprofit corporation's affairs in accordance with Section 16-6a-1405 ; and

(b)the giving of notice to:

(A)the nonprofit corporation's registered agent; or

(B)the division if it has no registered agent; and

(ii)to claimants in accordance with Sections 16-6a-1406 and 16-6a-1407 .

(4)The court's order or decision may be appealed as in other civil proceedings.

Amended by Chapter 331 , 2024 General Session