Wyoming Dissolution of Articles by Shareholders is a process by which a Wyoming business entity, such as a corporation, limited liability company, or limited partnership, can be terminated or dissolved. In order to dissolve the entity, all shareholders must agree to the dissolution and must sign articles of dissolution. The articles of dissolution will include the date of dissolution, the name of the entity, the name and address of the registered agent, the names and addresses of all shareholders, and the signatures of all shareholders. There are two types of Wyoming Dissolution of Articles by Shareholders: voluntary and involuntary. A voluntary dissolution is when all shareholders agree to the dissolution, while an involuntary dissolution is when a shareholder or shareholders do not agree to the dissolution. The process for both types of dissolution is the same, but the process can be more difficult in the case of an involuntary dissolution.
Wyoming Dissolution of Articles by Shareholders
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FAQ
Administrative Dissolution is when the Secretary of State of Wyoming dissolves your LLC. There are three main reasons the State of Wyoming may dissolve your company: Failure to file your Annual Report. Failure to pay the Annual Fee ($60) Failure to maintain a Registered Agent in Wyoming.
Shareholders may be liable for claims against dissolved corporations whether arising before or after dissolution. In general, the shareholders of dissolved companies do not cease to exist as shareholders and continue to have responsibilities of shareholders for the dissolved company.
Dissolution can also be accomplished even if some shareholders dissent. The directors must first adopt a resolution by majority vote recommending the dissolution. The shareholders must then have an opportunity to vote on the resolution at a meeting after being notified of its purpose.
Dissolving is the process of removing or ?striking off? a company from the register at Companies House. In situations where a company has become surplus to requirements (i.e. it has fulfilled the purpose it initially set out to achieve) and is no longer trading.
Simply put, a dissolved company is a business entity that is no longer registered with Companies House. Dissolution can occur for various reasons. This could be bankruptcy, failure to file required documents or a decision by the owners to close the business.
What is a business dissolution? A business dissolution is a formal closure of a business with the state. A small business cannot hang up a ?closed? or ?out of business? sign outside their storefront, turn off the lights, and lock their doors to be considered a dissolved business.
Articles of Dissolution must be mailed into the Wyoming Secretary of State. They cannot be filed online. It's a simple pre-made form from their website, or you may use our drafting service. Articles of Dissolution must be mailed into the Wyoming Secretary of State.
Company owners must approve the dissolution of a corporation or LLC. With corporations, the shareholders must approve the action.