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     35-1-931. Dissolution by incorporators or initial directors. 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 that none of the corporation's shares have been issued or that the corporation has not commenced business;
     (4) that any debt of the corporation does not remain unpaid;
     (5) if shares were issued, that the net assets of the corporation remaining after winding up of the corporation's business and affairs have been distributed to the shareholders; and
     (6) that a majority of the incorporators or initial directors authorized the dissolution.

     History: En. Sec. 147, Ch. 368, L. 1991; amd. Sec. 9, Ch. 229, L. 1999.

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