§ 14.01.
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/vt/14-01A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 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:
(A)that none of the corporation’s shares has been issued; or
(B)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. (Added 1993, No. 85, § 2, eff. Jan. 1, 1994.)