Dissolution by incorporators or initial directors

Ark. Code Ann. § 4-27-1401 — under Business Corporation Act of 1987.

Ark. Code Ann. § 4-27-1401

(1) 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 (i) that none of the corporation's shares has been issued or (ii) that 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.

(1) the name of the corporation;

(2) the date of its incorporation;

(3) either (i) that none of the corporation's shares has been issued or (ii) that 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.