950 CMR, § 113.40 - Voluntary Dissolution of a Corporation Which Has Not Issued Shares or Has Not Commenced Business

(1) A corporation which has not issued shares or has not commenced business may dissolve by majority vote of the incorporators or initial directors.

(2) The articles of dissolution consist of a form supplied by the Division or a document formatted in the same manner as the Division form. The articles of dissolution shall set forth:

(a) the name of the corporation;

(b) the street address of the corporation's registered office;

(c) the date of its incorporation;

(d) whether the dissolution was authorized by a majority vote of the incorporators or the initial directors in the manner required by law;

(e) that none of the corporation's shares has been issued or that the corporation has not commenced business;

(f) that no debt of the corporation remains unpaid; and

(g) that the net assets of the corporation remaining after winding up have been distributed to the shareholders, if the shares were issued; and

(h) the date and time the articles of dissolution will be effective if the articles of dissolution are to be effective at a later date and/or time, not more than 90 days from the date and time of filing.

Notes

950 CMR, § 113.40