Louisiana Plan of Liquidation and Dissolution of a Corporation

State:
Multi-State
Control #:
US-0076BG
Format:
Word; 
Rich Text
Instant download

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

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.

Ontario Dissolution Learning Centre The Articles of Dissolution cost $272.40 in total. The fee is made up of $149.00 for our fee of preparing the form filing and gaining approval from you to proceed. There is a $39.99 fee for the submission filing and $25.00 government fee.

Dissolving a Louisiana LLC comes with a $75 filing fee. Corporations need to pay $60. Expedited processing requires an additional $30.

Steps to dissolving a corporation or obtaining a corporate dissolution Call a board meeting. ... File a certificate of dissolution with the Secretary of State. ... Notify the Internal Revenue Service (IRS) ... Close accounts and credit lines, cancel licenses, etc.

Corporations may either dissolve voluntarily or involuntarily. A voluntary dissolution is done under the authorization of shareholders, or if there are no shareholders, under the authorization of the director(s).

A corporation can choose to dissolve by two different methods: by filing a notarized affidavit of dissolution with the Louisiana Secretary of State, or by filing an application to dissolve, referred to as a long form dissolution.

Dissolution of a federal corporation After you have liquidated your corporation's assets and discharged its other liabilities, you need to fill out and submit the Articles of Dissolution to Corporations Canada. If your corporation has shares, share-holders will need to approve the dissolution.

Sell all property and pay all debts If the corporation still has liabilities, you and the other shareholders must appoint a liquidator to deal with the corporation's assets and settle those debts to the best of their ability.

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Louisiana Plan of Liquidation and Dissolution of a Corporation