{"data":{"id":"us-wv/w.-va.-code-31d-14-1405","jurisdiction":"us-wv","citation":"W. Va. Code § 31D-14-1405","heading":"Effect of dissolution.","body":"(a) A dissolved corporation continues its corporate existence but may not carry on any business except those appropriate to wind up and liquidate its business and affairs, including:\n(1) Collecting its assets;\n(2) Disposing of its properties that will not be distributed in kind to its shareholders;\n(3) Discharging or making provision for discharging its liabilities;\n(4) Distributing its remaining property among its shareholders according to their interests; and\n(5) Doing every other act necessary to wind up and liquidate its business and affairs.\n(b) Dissolution of a corporation does not:\n(1) Transfer title to the corporation's property;\n(2) Prevent transfer of its shares or securities, although the authorization to dissolve may provide for closing the corporation's share transfer records;\n(3) Subject its directors or officers to standards of conduct different from those prescribed in article eight of this chapter;\n(4) Change quorum or voting requirements for its board of directors or shareholders; change provisions for selection, resignation or removal of its directors or officers or both; or change provisions for amending its bylaws;\n(5) Prevent commencement of a proceeding by or against the corporation in its corporate name;\n(6) Abate or suspend a proceeding pending by or against the corporation on the effective date of dissolution; or\n(7) Terminate the authority of the registered agent of the corporation, if any.","path":["CHAPTER 31D. WEST VIRGINIA BUSINESS CORPORATION ACT.","ARTICLE 14. DISSOLUTION."],"source_url":"https://code.wvlegislature.gov/31D-14-1405/","current_through":"as of 2026-08-03; contains at least the enactments of the 2026 Regular Session","vintage":"","retrieved_at":"2026-09-06T00:28:07Z","sha256":"ae2b4818242e3d3d78826e3d8872fb3f473f3a8cd68e3015486b574080c37c05","source_id":"us-wv","stale":true,"prev":"us-wv/w.-va.-code-31d-14-1404","next":"us-wv/w.-va.-code-31d-14-1406"},"notice":"GroundRules: Original legal text. Not legal advice."}