US Laws, Codes, Statutes & Cases

§142.1.  Dissolution by affidavit

A.  In addition to all other methods of dissolution, if the corporation is not doing business, owes no debts, and owns no immovable property, it may be dissolved by filing an affidavit with the secretary of state executed by the shareholders, or by the incorporator if no shares have been issued, attesting to such facts and requesting that the corporation be dissolved.  Thereafter, the shareholders, or the incorporator if no shares have been issued, shall be personally liable for any debts or claims, if any, against the corporation in proportion to their ownership in the shares of the corporation.

B.  The secretary of state shall reinstate a corporation which has been dissolved pursuant to this Section only upon receipt of a court order directing him to so reinstate the corporation.

Added by Acts 1982, No. 526, §1, eff. Aug. 11, 1982.  Acts 1989, No. 142, §1; Acts 2006, No. 170, §1.