Example Of Corporate Resolution To Dissolve In Suffolk
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To comply with corporation formalities, the board of directors should draft and approve the resolution to dissolve. Shareholders then vote on the director-approved resolution. Both actions should be documented and placed in the corporate record book.
A corporation consists of shareholders, a board of directors, and officers. When you form a corporation, you must organize the owners and managers—give them responsibilities and rights—ing to the rules laid out in your state's corporation laws.
Just as you would file articles of incorporation to start your corporate entity and to bring it into existence, you must also file articles of dissolution (also known as a certificate of dissolution) to notify the state that you are terminating or dissolving the corporation.
Corporations can be dissolved via a vote of the shareholders, partners in a partnership can elect to dissolve the businesses, and (depending upon the language in the articles of organization and operating agreement) LLCs can be dissolved by a vote of the LLC members.
Voluntary. In Arizona, there are three ways a nonprofit corporation can be dissolved: voluntarily, administratively, and judicially.
The first step in the voluntary dissolution process is the approval by the majority of the board of directors or members, or both, to elect to wind up and dissolve the nonprofit corporation. (Corp. Code, §§ 5033, 5034, 6610, 6610.5, 8610, 8610.5, 9680.)
Corporate or LLC dissolution is an official filing with the state where your business was originally formed. The action will terminate the legal existence of your company — wherever it does business.
