Kentucky Statutes 271B.14-010 – Dissolution by incorporators or initial directors
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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:
(1) The name of the corporation; (2) The date of its incorporation; (3) Either:
(a) That none of the corporation’s shares has been issued; or
(b) That the corporation has not commenced business; (4) That no debt of the corporation remains unpaid;
(5) That the net assets of the corporation remaining after winding up have been distributed to the shareholders, if shares were issued; and
(6) That a majority of the incorporators or initial directors authorized the dissolution.
Effective: January 1, 1989
History: Created 1988 Ky. Acts ch. 23, sec. 137, effective January 1, 1989.
(1) The name of the corporation; (2) The date of its incorporation; (3) Either:
Terms Used In Kentucky Statutes 271B.14-010
- 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.
- Corporation: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
- Secretary: means the corporate officer to whom the board of directors has delegated responsibility under KRS §. See Kentucky Statutes 271B.1-400
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
(a) That none of the corporation’s shares has been issued; or
(b) That the corporation has not commenced business; (4) That no debt of the corporation remains unpaid;
(5) That the net assets of the corporation remaining after winding up have been distributed to the shareholders, if shares were issued; and
(6) That a majority of the incorporators or initial directors authorized the dissolution.
Effective: January 1, 1989
History: Created 1988 Ky. Acts ch. 23, sec. 137, effective January 1, 1989.