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Ala. Code § 10A-2A-14.01

Dissolution by Incorporators or Initial Directors.

Known as the Alabama Business and Nonprofit Entity Code

The act spans §§ 10A-1-1.01 to 10A-9A-9.09 (1,341 sections).

(Act 2019-94, §1; Act 2020-73, §7.)

A majority of the incorporators or initial directors of a corporation that has not issued stock or has not commenced business may dissolve the corporation by delivering to the Secretary of State for filing a certificate of dissolution that sets forth:

(a) the name of the corporation;

(b) the date of its incorporation;

(c) either (i) that none of the corporation’s stock has been issued, or (ii) that the corporation has not commenced business;

(d) that no debt of the corporation remains unpaid;

(e) that the net assets of the corporation remaining after winding up have been distributed to the stockholders, if stock was issued;

(f) that a majority of the incorporators or initial directors authorized the dissolution; and

(g) the unique identifying number or other designation as assigned by the Secretary of State.

Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.