Section 14-3-1401 - Dissolution by incorporators or initial directors

A majority of the incorporators or initial directors of a corporation that has not admitted members entitled to vote on dissolution, has not commenced activities other than routine formation related activities, and has no net assets 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) That: (A) The corporation has not admitted members entitled to vote on dissolution;(B) The corporation has not commenced activities; and(C) The corporation has no net assets;(4) That no debt of the corporation remains unpaid; and(5) That a majority of the incorporators or initial directors authorized the dissolution.Amended by 2023 Ga. Laws 260,§ 1-1, eff. 7/1/2023.Amended by 2005 Ga. Laws 19,§ 14, eff. 4/7/2005.Amended by 2004 Ga. Laws 533, § 55, eff. 7/1/2004.