A majority of the incorporators or initial directors of a corporation that has not issued stock or has not commenced business may dissolve the corporation by delivering to the Secretary of State for filing a certificate of dissolution that sets forth:

(a) the name of the corporation;

Terms Used In Alabama Code 10A-2A-14.01

  • 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 several territories of the United States. See Alabama Code 1-1-1
(b) the date of its incorporation;
(c) either (i) that none of the corporation’s stock has been issued, or (ii) 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 stockholders, if stock was issued;
(f) that a majority of the incorporators or initial directors authorized the dissolution; and
(g) the unique identifying number or other designation as assigned by the Secretary of State.
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