Virginia Articles of Termination of Corporate Existence-Nonstock Corporation is a document that is filed with the Virginia State Corporation Commission. The document is used to terminate a nonstick corporation formed under the laws of Virginia. It is also known as the Certificate of Termination of Nonstick Corporation. The document must be signed by all the directors, or a majority of them, and accompanies a Statement of Dissolution of Nonstick Corporation. The document includes the name of the corporation, date of filing, and the name of the person filing the document. There are two types of Virginia Articles of Termination of Corporate Existence-Nonstock Corporation: Voluntary and Involuntary. Voluntary termination is initiated by the corporation itself, while Involuntary termination is initiated by a court order or other legal action.
Virginia Articles Of Termination Of Corporate Existence-Nonstock Corporation
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Visit to file articles of dissolution and/or termination of a Virginia Stock Corporation in real time. Questions? P.O. Box 1197 Richmond, VA 23219 Richmond, VA 23218-1197 Pay online with a credit card or eCheck. No additional processing fees apply for filing online.
The corporation must have been dissolved voluntarily by filing articles of dissolution, and the dissolution must not have been revoked. The chairman or any vice-chairman of the board of directors, the president, or any other of its officers authorized to act on behalf of the corporation must sign the articles.
Unlike a stock corporation that issues shares of stock to investors who then become "owners" and are entitled to share in the corporation's profits, a nonstock corporation does not have any shareholders or "owners."
The main difference between an LLC and a corporation is that an llc is owned by one or more individuals, and a corporation is owned by its shareholders. No matter which entity you choose, both entities offer big benefits to your business. Incorporating a business allows you to establish credibility and professionalism.
To incorporate your company, you must file the Articles of Incorporation with the Virginia State Corporate Commission (SCC). You can file online, or download the PDF from the Virginia SCC website and submit via mail or in person.
To dissolve your Virginia Corporation that has not issued shares or has not commenced business, you file Form SCC751, Articles of Termination of Corporate Existence. This form needs to be signed by a majority of initial directors or if there are none, by a majority of the incorporators.
?To inactivate a business license, notification must be submitted in writing. The notification must be signed by the owner of the business, a member of the Limited Liability Company or officer of the Corporation and it must also indicate the exact out-of-business date.