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The corporation's bylaws or the LLC operating agreement typically outline the dissolution process and needed approvals. 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.
Each way of dissolution has its grounds and specific legal procedure. While a corporation may be involuntarily dissolved under a court decree, the voluntary dissolution is carried out by a corporation's shareholders, as well as in special cases by the Board of Directors.
Copies of business formation documents are available online. To obtain copies of business formation documents access the New Mexico Secretary of State website by selecting the CORPORATIONS AND BUSINESS SERVICES link. If you have not created an account, select Create User Account.
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.
Articles of Incorporation refers to the highest governing document in a corporation. It is also known known as the corporate charter. The Articles of Incorporation generally include the purpose of the corporation, the type and number of shares, and the process of electing a board of directors.
Initial New Mexico Corporation Filing Fees State FeeState Filing TimeExpedited Filing Time$1005 weeks29 Business DaysState Fee$100State Filing Time5 weeksExpedited Filing Time29 Business Days
To dissolve a corporation, California's default rules call for written consent by shareholders holding at least 50% of the voting power?the same minimum requirement if there was a vote at a meeting. However, the corporation's articles can require a higher voting percentage.
To dissolve your New Mexico corporation you must file both the Statement of Intent to Dissolve and the Articles of Dissolution. Each one requires a $50 filing fee. Payment must be made by check or money order. You may expedite processing of your dissolution by the PRC.