§415-82 Voluntary dissolution by incorporators or initial directors. A corporation which has not commenced business or which has not issued any shares, may be voluntarily dissolved by its incorporators or initial directors at any time in the following manner:

Articles of dissolution shall be delivered to the director for filing and shall set forth:

(1) The name of the corporation;

(2) The date of its incorporation;

(3) Either (A) that none of its shares has been issued, or (B) that the corporation has not commenced business;

(4) That the amount, if any, actually paid in on subscriptions for its shares, less any part thereof disbursed for necessary expenses has been returned to those entitled thereto;

(5) That no debts of the corporation remain unpaid; and

(6) That a majority of the incorporators or initial directors elect that the corporation be dissolved.

Upon the filing of the articles of dissolution, the existence of the corporation shall cease. [L 1983, c 167, pt of §1; am L 1985, c 270, §4; am L 1987, c 135, §57; am L 1988, c 371, §8]