Montana Code 35-14-1401. Dissolution by incorporators or initial directors
35-14-1401. Dissolution by incorporators or initial directors. 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:
Terms Used In Montana Code 35-14-1401
- 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. See Montana Code 1-1-201
(1)the name of the corporation;
(2)the date of its incorporation;
(3)either:
(i)that none of the corporation’s shares has been issued; or
(ii)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.