| (1) |
If after a hearing the court determines that one or more grounds for judicial dissolution described in Section 16-10a-1430 exist, it may enter a decree dissolving the corporation and specifying the effective date of the dissolution. The clerk of the court shall deliver a certified copy of the decree to the division for filing. |
Terms Used In Utah Code 16-10a-1433
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Deliver: includes delivery by mail or another means of transmission authorized by Section 16-10a-103, except that delivery to the division means actual receipt by the division. See Utah Code 16-10a-102
- Division: means the Division of Corporations and Commercial Code. See Utah Code 16-10a-102
- Notice: is a s provided in Section 16-10a-103. See Utah Code 16-10a-102
| (2) |
After entering the decree of dissolution, the court shall direct the winding up and liquidation of the corporation’s business and affairs in accordance with Section 16-10a-1405 and the giving of notice to its registered agent, or to the division if it has no registered agent, and to claimants in accordance with Sections 16-10a-1406 and 16-10a-1407. |
| (3) |
The court’s order may be appealed as in other civil proceedings. |
Enacted by Chapter 277, 1992 General Session
