Section 14-3-1406 - Effect of notice of intent to dissolve

A corporation that has filed a notice of intent to dissolve continues its corporate existence but may not carry on any business except that appropriate to wind up and liquidate its business and affairs, including:(1) Collecting its assets;(2) Disposing of its properties that will not be distributed in kind in accordance with the plan of dissolution;(3) Discharging or making provision for discharging its liabilities;(4) Distributing its remaining property in accordance with the plan of dissolution; and(5) Doing every other act necessary to wind up and liquidate its business and affairs.Amended by 2023 Ga. Laws 260,§ 1-1, eff. 7/1/2023.