North Carolina Sample Letter for Reinstatement of Corporation
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How to fill out Sample Letter For Reinstatement Of Corporation?
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FAQ
My company has already been administratively dissolved. How can I get reinstated? Fix the problem that caused it to be dissolved. For example, if you have overdue annual reports, you will have to file them all. ... Fill out the Reinstatement Form. ... File the Reinstatement Form and pay fee reinstatement fee.
Once a company is dissolved, it no longer exists as a legal entity and cannot conduct business or enter into contracts. Dissolution may also trigger a number of certain legal obligations, such as the distribution of remaining assets to creditors or shareholders. It also might involve the filing of final tax returns.
When you need to change your North Carolina LLC's Articles of Organization, you must file an Amendment of Articles of Organization with the North Carolina Secretary of State. Filing an amendment can be done by mail, in person, or online, and costs $50.
After dissolution, a corporation is generally expected to pay all its existing debts and then liquidate its remaining assets to its shareholders. This sometimes becomes difficult, however, where there are unknown claims that may exist against the corporation.
Administrative dissolution is an involuntary dissolution action taken by the Secretary of State, or whatever they call it in your state, that results in the loss of the business entity's rights to do business in that particular location.
People who continue to operate a business that has been dissolved, are taking a serious risk. That's because once the company dissolves, the corporate protections no longer exist. That means that someone who operates the dissolved business, can be sued personally for anything the (dissolved) company does.
Filing fee for this Application for Reinstatement is $100.00, payable by check made to the order of the Secretary of State. 2. This Application must be filed with the Secretary of State.
Administrative dissolution is the taking away of the rights, powers, and authority of a domestic corporation, LLC, or other statutory business entity by the state administrator overseeing business entities, due to the entity's failure to comply with certain obligations of the business entity statute.
