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Vermont Statutes Title 11 A. Vermont Business Corporations, § 14.03. Articles of dissolution; content of notice; notice to Department of Labor regarding unpaid wages

Current as of January 01, 2024 | Updated by FindLaw Staff

(a) At any time after dissolution is authorized, the corporation may dissolve by delivering to the Secretary of State for filing articles of dissolution setting forth:

(1) the name of the corporation;

(2) the date dissolution was authorized;

(3) if dissolution was approved by the shareholders:

(A) the number of votes entitled to be cast on the proposal to dissolve; and

(B) either the total number of votes cast for and against dissolution or the total number of undisputed votes cast for dissolution and a statement that the number cast for dissolution was sufficient for approval;

(4) if voting by voting groups was required, the information required by subdivision (3) of this subsection, separately provided for each voting group entitled to vote separately on the plan to dissolve;

(5) a statement as to the settlement of debts, the distribution of property, and the status of pending litigation;

(6) a statement whether the corporation owes any unpaid wages to its employees.

(b) Subject to the provisions of section 14.09 of this title, a corporation is dissolved upon the effective date of its articles of dissolution.

(c) If a corporation owes unpaid wages to its employees, it shall also file a statement to that effect with the Department of Labor.

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Cite this article: FindLaw.com - Vermont Statutes Title 11 A. Vermont Business Corporations, § 14.03. Articles of dissolution; content of notice; notice to Department of Labor regarding unpaid wages - last updated January 01, 2024 | https://codes.findlaw.com/vt/title-11-a-vermont-business-corporations/vt-st-tit-11a-sect-14-03/

Read this complete Vermont Statutes Title 11 A. Vermont Business Corporations, § 14.03. Articles of dissolution; content of notice; notice to Department of Labor regarding unpaid wages on Westlaw. Westlaw subscription required.

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