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The Vermont Statutes Online

 

Title 11A : Vermont Business Corporations

Chapter 014 : DISSOLUTION

Subchapter 001 : VOLUNTARY DISSOLUTION

(Cite as: 11A V.S.A. § 14.01)
  • § 14.01. 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:

    (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. (Added 1993, No. 85, § 2, eff. Jan. 1, 1994.)