47-1A-1405. Effect of dissolution.
A dissolved corporation 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 to its shareholders;
(3)Discharging or making provision for discharging its liabilities;
(4)Distributing its remaining property among its shareholders according to their interests; and
(5)Doing every other act necessary to wind up and liquidate its business and affairs.
Source: SL 2005, ch 239, §316.