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2016 New York Laws
BSC - Business Corporation
Article 11 - (Business Corporation) JUDICIAL DISSOLUTION
1102 - Directors' petition for judicial dissolution.

NY Bus Corp L § 1102 (2016) What's This?
1102. Directors' petition for judicial dissolution.

If  a  majority  of  the board adopts a resolution that finds that the
  assets of a corporation are not sufficient to discharge its  liabilities
  or  that  a  dissolution  will be beneficial to the shareholders, it may
  present a petition for its dissolution.

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