GroundRules
18 GCA § 12115: Dissolution.
Where this section sits in the code
- Title 18: Business Structure and Function
- Division 1 - Business Structure
- Part 2 - Special Corporate Forms
- Chapter 12: Industrial Development Corporations
The corporation may, upon the affirmative vote of two-thirds (2/3) of the votes to which the stockholders shall be entitled and two-thirds (2/3) of the votes to which the members shall be entitled, dissolve said corporation. Upon any dissolution of the corporation, none of the corporation's assets shall be distributed to the stockholders until all sums due the members of the corporation as creditors thereof have been paid in full.
Collected 2026-09-27T03:53:48Z. Source file · JSON