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Current as of January 01, 2022 | Updated by FindLaw Staff
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. Name. The name of the corporation;
2. Date. The date of incorporation;
3. Shares. That none of the corporation's shares have been issued or that the corporation has not commenced business;
4. Debt. That no debt of the corporation remains unpaid, including the filing of the annual report as required by section 1621;
5. Net assets. That, if shares were issued, the net assets of the corporation remaining after winding up have been distributed to the shareholders;
6. Authorization of dissolution. That a majority of the incorporators or initial directors authorized the dissolution;
7. Date authorized. The date dissolution was authorized; and
8. Effective date. The effective date of the dissolution. A corporation is dissolved upon the effective date of its articles of dissolution.
Cite this article: FindLaw.com - Maine Revised Statutes Title 13-C. Maine Business Corporation Act § 1401. Dissolution by incorporators or initial directors - last updated January 01, 2022 | https://codes.findlaw.com/me/title-13-c-maine-business-corporation-act/me-rev-st-tit-13-c-sect-1401/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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