A corporation that has filed a notice of intent to dissolve continues its corporate existence but may not carry on any business except that appropriate to wind up and liquidate its business and affairs, including:
(1) Collecting its assets;
(2) Disposing of its properties that will not be distributed in kind to its shareholders;
(3) Discharging or making provision for discharging its liabilities;
(4) Distributing its remaining property among its shareholders according to their interests; and
(5) Doing every other act necessary to wind up and liquidate its business and affairs.
Section: Previous 14-2-1401 14-2-1402 14-2-1403 14-2-1403.1 14-2-1404 14-2-1405 14-2-1406 14-2-1407 14-2-1408 14-2-1409 14-2-1410 NextLast modified: October 14, 2016