Effect of Notice of Intent to Dissolve

  1. Law
  2. Georgia Code
  3. Corporations, Partnerships, and Associations
  4. Nonprofit Corporations
  5. Dissolution
  6. Voluntary Dissolution
  7. Effect of Notice of Intent to Dissolve

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A corporation that has filed a notice of intent to dissolve continues its corporate existence but may not carry on any business except that appropriate to wind up and liquidate its business and affairs, including:

  1. Collecting its assets;
  2. Disposing of its properties that will not be distributed in kind in accordance with the plan of dissolution;
  3. Discharging or making provision for discharging its liabilities;
  4. Distributing its remaining property among its members in accordance with the plan of dissolution; and
  5. Doing every other act necessary to wind up and liquidate its business and affairs.

(Code 1981, §14-3-1406, enacted by Ga. L. 1991, p. 465, § 1.)


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