Idaho Code 30-29-1401 – Dissolution by Incorporators or Initial Directors
Current as of: 2023 | Check for updates
|
Other versions
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:
(a) The name of the corporation;
Terms Used In Idaho Code 30-29-1401
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114
(b) The date of its incorporation;
(c) Either:
(1) That none of the corporation’s shares has been issued; or
(2) That the corporation has not commenced business;
(d) That no debt of the corporation remains unpaid;
(e) That the net assets of the corporation remaining after winding up have been distributed to the shareholders, if shares were issued; and
(f) That a majority of the incorporators or initial directors authorized the dissolution.