Dissolution by Incorporators or Initial Directors

Ala. Code § 10A-2A-14.01 — under Title 10A.

Ala. Code § 10A-2A-14.01

A majority of the incorporators or initial directors of a corporation that has not issued stock or has not commenced business may dissolve the corporation by delivering to the Secretary of State for filing a certificate of dissolution that sets forth: (a) the name of the corporation; (b) the date of its incorporation; (c) either (i) that none of the corporation’s stock has been issued, or (ii) that the corporation has not commenced business;

(d) that no debt of the corporation remains unpaid; (e) that the net assets of the corporation remaining after winding up have been distributed to the stockholders, if stock was issued; (f) that a majority of the incorporators or initial directors authorized the dissolution; and

(g) the unique identifying number or other designation as assigned by the Secretary of State.

History: (Act 2019-94, §1; Act 2020-73, §7.)