(1) A dissolved corporation continues its corporate existence but may not carry on any activities except those appropriate to wind up and liquidate its affairs, including: Preserving and protecting its assets and minimizing its liabilities;
(2) Discharging or making provision for discharging its liabilities and obligations;
(3) Disposing of its properties that will not be distributed in kind;
(4) Returning, transferring or conveying assets held by the corporation upon a condition requiring return, transfer or conveyance, which condition occurs by reason of the dissolution, in accordance with such condition;
(5) Transferring, subject to any contractual or legal requirements, its assets as provided in or authorized by its articles of incorporation or bylaws;
(6) If no provision has been made in its articles or bylaws for distribution of assets on dissolution, it may transfer, subject to any contractual or legal requirement, its assets: To one (1) or more persons described in section 501(c)(3) of the Internal Revenue Code; or
(7) To its members or, if it has no members, to those persons whom the corporation holds itself out as benefiting or serving; and
(8) Doing every other act necessary to wind up and liquidate its assets and affairs.
(9) Dissolution of a corporation does not: Transfer title to the corporation’s property;
(10) Subject its directors or officers to standards of conduct different from those prescribed in sections 30-30-618 and 30-30-623, Idaho Code;
(11) Change quorum or voting requirements for its board or members; change provisions for selection, resignation or removal of its directors or officers or both; or change provisions for amending its bylaws;
(12) Prevent commencement of a proceeding by or against the corporation in its corporate name;
(13) Abate or suspend a proceeding pending by or against the corporation on the effective date of dissolution; or
(14) Terminate the authority of the registered agent.