The Vermont Statutes Online

Title 11A: Vermont Business Corporations

Chapter 14: DISSOLUTION

Sub-Chapter 01: Voluntary Dissolution

11A V.S.A. § 14.01. Dissolution by incorporators or initial directors



§ 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.)