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.