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LSDefine

Simple English definitions for legal terms

dissolution of corporation

Read a random definition: memorandum of intent

A quick definition of dissolution of corporation:

Dissolution of corporation means closing down a company. This can be a complicated process, especially if there are many owners and assets. First, the corporation needs approval from its board of directors and shareholders. Then, it must pay any taxes and debts owed to the government and other parties. Finally, the corporation must sell off its assets and distribute the money to creditors and shareholders. The order of who gets paid first is determined by the corporation's agreements and legal requirements.

A more thorough explanation:

Dissolution of corporation refers to the process of closing down a corporate entity. This can be a complex process, especially for corporations with multiple owners and assets.

The process of dissolving a corporation involves several steps:

  1. Getting approval from the board of directors and shareholders
  2. Filing required paperwork and paying fees to the federal and state governments
  3. Dissolving assets, closing accounts, and distributing cash to creditors and shareholders

Before a corporation can be dissolved, any outstanding taxes and liabilities must be paid. The selling off of assets can also be a lengthy process, depending on the size and industry of the corporation.

ABC Corporation has decided to dissolve. The board of directors and shareholders have approved the decision. ABC Corporation then files the necessary paperwork and pays the required fees to the federal and state governments. The corporation then begins the process of selling off assets, closing accounts, and distributing cash to creditors and shareholders.

This example illustrates the steps involved in the dissolution of a corporation. It shows that the process can be complex and time-consuming, but is necessary for closing down a corporate entity.

dissolution | dissolution of marriage

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Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
Minus those random R decisions from UMN yesterday though right? I wonder what happened there. I don’t think I’ve seen a school start the season out with anything but As on here
almost all of my apps have been UR for 6 weeks at this point I feel exhausted waiting for them to finish
Irvine is being snobby and wont start any review until end of Nov.
Yeah, it’s tough. I’m distracting myself by playing good video games after work :)
im distracting myself by schizo-scrolling r/lawschoolamissions and every conceivable data point on this godforsaken website
it is not working
Haaa I naturally want to do that too. I’m trying to stop. They need a surgeon general’s warning on this site for perspective law students
i spend more time on here then anything else trying to rationalize that the waves from last year will match waves for this year (they won't) and that the stats of people with the same stats are indicative of my own (they aren't)
There aren't many people in my stat range so I pretty much know every result in my range after being on here for a few years
9:28
congrats on the 172 bruce
go dawgs fr
9:29
roll tide
do we foresee a fordham election day wave today (i'm delusional)
WorthlessAttractiveZombie
9:31
I think so, Jack
9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
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