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Searching 2023-2024 Session

The Vermont Statutes Online


Title 11A : Vermont Business Corporations

Chapter 014 : DISSOLUTION


(Cite as: 11A V.S.A. § 14.03)
  • § 14.03. Articles of dissolution; content of notice; notice to Department of Labor regarding unpaid wages

    (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. (Added 1993, No. 85, § 2, eff. Jan. 1, 1994; amended 2011, No. 124 (Adj. Sess.), § 2.)