Raleigh North Carolina Dissolution Package to Dissolve Corporation
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How to fill out North Carolina Dissolution Package To Dissolve Corporation?
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FAQ
A corporate dissolution may be ordered by the Court of Common Pleas to protect shareholders' investments. This may happen when three conditions exist: The directors of the company have engaged in illegal or fraudulent activities. Assets of the company have been spent unwisely or otherwise wasted.
To dissolve a North Carolina corporation, you just need to file form B-06, Articles of Dissolution by Board of Directors and Shareholders, Business Corporation with the North Carolina Secretary of State, Corporations Division (SOS).
A corporation seeking voluntary dissolution shall submit a verified request signed by its duly authorized representatives containing the corporate name, SEC registration number, principal office, a statement requesting for the dissolution, and reason for the dissolution.
Dissolution of corporation refers to the closing of a corporate entity which can be a complex process. Ending a corporation becomes more complex with more owners and more assets.
Dissolution of a Corporation is the termination of a corporation, either a) voluntarily by resolution, paying debts, distributing assets, and filing dissolution documents with the Secretary of State; or b) by state suspension for not paying corporate taxes or some other action of the government.
Modes of dissolution A corporation may be dissolved voluntarily or involuntarily. Voluntary dissolution could be done by (1) shortening the corporate term, (2) filing a request for dissolution (where no creditors are affected), and (3) filing a petition for dissolution (where creditors are affected).
If you want to close a North Carolina business, you do so by voluntarily filing Articles of Dissolution for the entity type (Business Corporation, Nonprofit Corporation, Limited Liability Company (LLC)).
In most cases, a simple majority vote is sufficient to pass the resolution for corporate dissolution. The Board needs to develop a plan of dissolution once the shareholders approve the dissolution.
Modes of dissolution A corporation may be dissolved voluntarily or involuntarily. Voluntary dissolution could be done by (1) shortening the corporate term, (2) filing a request for dissolution (where no creditors are affected), and (3) filing a petition for dissolution (where creditors are affected).
