Dissolution by incorporators or initial directors

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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. (1) the name of the corporation;

  2. (2) the date of its incorporation;

  3. (3) either (i) that none of the corporation's shares has been issued or (ii) that the corporation has not commenced business;

  4. (4) that no debt of the corporation remains unpaid;

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

  6. (6) that a majority of the incorporators or initial directors authorized the dissolution.


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