Florida Plan of Liquidation and Dissolution of a Corporation

State:
Multi-State
Control #:
US-0076BG
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Word; 
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Description

Dissolution is the act of bringing to an end. It is the act of rendering a legal proceeding null, or changing its character. Under corporate law, it is the last stage of liquidation. Dissolution is the process by which a company is brought to an end.



Liquidation is the selling of the assets of a business, paying bills and dividing the remainder among shareholders, partners or other investors. A business need not be insolvent to liquidate. Upon liquidation of certain business, such as a bank, a bond may be required to be posted to assure the proper distribution of assets to creditors.

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FAQ

Section 542.33 - Contracts in restraint of trade valid (1) Notwithstanding other provisions of this chapter to the contrary, each contract by which any person is restrained from exercising a lawful profession, trade, or business of any kind, as provided by subsections (2) and (3) hereof, is to that extent valid, and ...

You may be able to sue a dissolved corporation or a dissolved limited liability company for a period of time after dissolution, especially if it failed to wind up its business and dissolve properly.

Dissolution. The first step to closing up shop is receiving shareholder approval to formally close the corporation. The board of directors should adopt a resolution to dissolve the corporation and receive approval for the action.

A plan of dissolution is a written description of how an entity intends to dissolve, or officially and formally close the business. A plan of dissolution will include a description of how any remaining assets and liabilities will be distributed.

To dissolve a corporation in Florida you file Articles of Dissolution with the Florida Division of Corporations, Amendment Section. The DOC charges a $35 filing fee. For an additional $8.75, the DOC will provide a Certificate of Status (certified copies of the filing also cost $8.75).

(1) ?Abandoned? or ?abandonment? means a situation in which the parent or legal custodian of a child or, in the absence of a parent or legal custodian, the caregiver, while being able, has made no significant contribution to the child's care and maintenance or has failed to establish or maintain a substantial and ...

Section 617.1403, Florida Statutes, provides for the dissolution of a corporation that has commenced to conduct its affairs. The document must be typed or printed and must be legible.

Section 607.1403, Florida Statutes, provides for the dissolution of a corporation that has issued shares. The document must be typed or printed and must be legible.

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Florida Plan of Liquidation and Dissolution of a Corporation