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  • SECTION 1115
    Injunction
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  • ARTICLE 11
    Judicial Dissolution
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  • SECTION 1117
    Applicability of other provisions
    • This entry was published on 2014-09-22
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    SECTION 1116

    Discontinuance of action or special proceeding

    Business Corporation (BSC) CHAPTER 4, ARTICLE 11

    § 1116. Discontinuance of action or special proceeding.

    An action or special proceeding for the dissolution of a corporation
    may be discontinued at any stage when it is established that the cause
    for dissolution did not exist or no longer exists. In such event, the
    court shall dismiss the action or special proceeding and direct any
    receiver to redeliver to the corporation all its remaining property.