North Dakota Code 10-33-112 – Decree of dissolution
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1. In an involuntary or supervised voluntary dissolution, the court shall provide for the discharge of obligations and the distribution of the assets as set forth in subsection 4 of section 10-33-108 and shall enter a decree dissolving the corporation.
Terms Used In North Dakota Code 10-33-112
- 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.
2. When the decree dissolving the corporation has been entered, the corporation is dissolved.