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Section 30-29-1401 - DISSOLUTION BY INCORPORATORS OR INITIAL DIRECTORS.

ID Code § 30-29-1401 (2019) (N/A)
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30-29-1401. 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:

(a) The name of the corporation;

(b) The date of its incorporation;

(c) Either:

(1) That none of the corporation’s shares has been issued; or

(2) That the corporation has not commenced business;

(d) That no debt of the corporation remains unpaid;

(e) That the net assets of the corporation remaining after winding up have been distributed to the shareholders, if shares were issued; and

(f) That a majority of the incorporators or initial directors authorized the dissolution.

History:

[30-29-1401, added 2015, ch. 243, sec. 69, p. 956; am. 2019, ch. 90, sec. 145, p. 319.]

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Section 30-29-1402 - DISSOLUTION BY BOARD OF DIRECTORS AND SHAREHOLDERS.