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 in accordance with the plan of dissolution;
(3) Discharging or making provision for discharging its liabilities;
(4) Distributing its remaining property among its members in accordance with the plan of dissolution; and
(5) Doing every other act necessary to wind up and liquidate its business and affairs.
Section: Previous 14-3-1401 14-3-1402 14-3-1403 14-3-1404 14-3-1404.1 14-3-1405 14-3-1406 14-3-1407 14-3-1408 14-3-1409 14-3-1409.1 14-3-1410 NextLast modified: October 14, 2016