§ 13.1-911. Decree of dissolution
A. If after a hearing the court determines that one or more grounds for judicial dissolution described in § 13.1-909 exist, it may enter a decree directing that the corporation shall be dissolved. The clerk of the court shall deliver a certified copy of the decree to the Commission, which shall enter an order of involuntary dissolution.
B. After the order of involuntary dissolution has been entered, the court shall direct the winding up and liquidation of the corporation's business and affairs in accordance with §§ 13.1-906 and 13.1-907 and the notification of claimants in accordance with §§ 13.1-908, 13.1-908.1, and 13.1-908.2. When all of the assets of the corporation have been distributed, the court shall so advise the Commission, which shall enter an order of termination of corporate existence.
(Code 1950, §§ 13.1-262, 13.1-263; 1956, c. 428; 1985, c. 522; 2007, c. 925.)
Sections: Previous 13.1-907 13.1-908 13.1-908.1 13.1-908.2 13.1-908.3 13.1-909 13.1-910 13.1-911 13.1-912 13.1-913 13.1-914 13.1-915 13.1-916 13.1-917 13.1-918 NextLast modified: April 16, 2009