{"data":{"id":"us-dc/d.c.-code-29-312.05","jurisdiction":"us-dc","citation":"D.C. Code § 29-312.05","heading":"Effect of dissolution.","body":"(a)\nA dissolved corporation continues its corporate existence but shall not carry on any activities except that appropriate to wind up and liquidate its business and affairs, including:\n(1)\nCollecting its assets;\n(2)\nDisposing of its properties that will not be distributed in kind to its shareholders;\n(3)\nDischarging or making provision for discharging its liabilities;\n(4)\nDistributing its remaining property among its shareholders according to their interests; and\n(5)\nDoing every other act necessary to wind up and liquidate its activities and affairs.\n\n(b)\nDissolution of a corporation shall not:\n(1)\nTransfer title to the corporation’s property;\n(2)\nPrevent transfer of its shares or securities, although the authorization to dissolve may provide for closing the corporation’s share transfer records;\n(3)\nSubject its directors or officers to standards of conduct different from those prescribed in subchapter VI of this chapter;\n(4)\nChange:\n(A)\nQuorum or voting requirements for its board of directors or shareholders;\n(B)\nProvisions for selection, resignation, or removal of its directors or officers, or both;\n(C)\nProvisions for amending its bylaws;\n(5)\nPrevent commencement of a proceeding by or against the corporation in its corporate name;\n(6)\nAbate or suspend a proceeding pending by or against the corporation on the effective date of dissolution; or\n(7)\nTerminate the authority of the registered agent of the corporation.","path":["Title 29. Business Organizations. [Enacted title]","Chapter 3. Business Corporations.","Subchapter XII. Dissolution.","Part A. Voluntary Dissolution."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/29-312.05","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"3a2a2fa272618cd276f901a1aaf9ab347709c42ccf7f8ea63332c0d2a9c1aff5","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-29-312.04","next":"us-dc/d.c.-code-29-312.06"},"notice":"GroundRules: Original legal text. Not legal advice."}