Legislation
SECTION 1102
Directors' petition for judicial dissolution
Business Corporation (BSC) CHAPTER 4, ARTICLE 11
§ 1102. Directors' petition for judicial dissolution.
If a majority of the board adopts a resolution that finds that the
assets of a corporation are not sufficient to discharge its liabilities
or that a dissolution will be beneficial to the shareholders, it may
present a petition for its dissolution.
If a majority of the board adopts a resolution that finds that the
assets of a corporation are not sufficient to discharge its liabilities
or that a dissolution will be beneficial to the shareholders, it may
present a petition for its dissolution.