11A V.S.A. § 14.01

Dissolution by incorporators or initial directors

Last amended: 1993Year: 2026Length: 118 wordsOfficial source
A majority of the incorporators or initial directors of a corporation that has not issued shares or has not commenced business may dissolve the corporation by delivering to the Secretary of State for filing articles of dissolution that set forth: (1) the name of the corporation; (2) the date of its incorporation; (3) either: (A) that none of the corporation's shares has been issued; or (B) that the corporation has not commenced business; (4) that no debt of the corporation remains unpaid; (5) that the net assets of the corporation remaining after winding up have been distributed to the shareholders, if shares were issued; and (6) that a majority of the incorporators or initial directors authorized the dissolution.
11A V.S.A. § 14.01: Dissolution by incorporators or initial directors | Justis AI