§ 13-1-913

A majority of the initial directors or, if initial directors were not named in the articles of incorporation and have not been elected, the incorporators of a corporation that has not commenced business may dissolve the corporation and terminate its corporate existence by filing with the Commission articles of termination of corporate existence that set forth:\n1. The name of the corporation;\n2. That the corporation has not commenced business;\n3. That no debt of the corporation remains unpaid;\n4. That the net assets of the corporation remaining after winding up have been distributed; and\n5. That a majority of the initial directors authorized the dissolution or that initial directors were not named in the articles of incorporation and have not been elected and a majority of the incorporators authorized the dissolution.\n1985, c. 522; 1986, c. 234; 2007, c. 925.