2019 US Virgin Islands Code
Title 13 - Corporations and Associations
Chapter 13 - Economic Development Corporations
§ 814. Duration; dissolution
Universal Citation: V.I. Code tit. 13, § 814 (2019)
(a) The period of duration of the corporation shall be perpetual subject however, to the right of the stockholders and the members to dissolve the corporation prior to the expiration of said period.
(b) The corporation may, upon the affirmative vote of two-thirds (⅔) of the votes to which the stockholders shall be entitled and two-thirds (⅔) of the votes to which the members shall be entitled, dissolve said corporation. Upon any dissolution of the corporation, none of the corporation's assets shall be distributed to the stockholders until all sums due the members of the corporation as creditors thereof have been paid in full.
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