Section 14-2-1401 - 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 that: (A) None of the corporation's shares has been issued; or(B) 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.