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This entry was published on 2014-09-22
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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.