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 the State for filing a certificate of dissolution that sets forth:

1. (1) The name of the corporation;
2. (2) either (A) that none of the corporation's shares have been issued or (B) that the corporation has not commenced business;
3. (3) that no debt of the corporation remains unpaid;
4. (4) that the net assets of the corporation remaining after winding up have been distributed to the shareholders, if shares were issued; and
5. (5) that a majority of the incorporators or initial directors authorize the dissolution.

(P.A. 94-186, S. 161, 215; P.A. 96-271, S. 112, 254.)

History: P.A. 94-186 effective January 1, 1997; P.A. 96-271 replaced “articles” of dissolution with “certificate” of dissolution, effective January 1, 1997.