A. If after a hearing the court determines that one or more of the grounds for judicial dissolution described in section 10-1430 exist, it may enter a decree that dissolves the corporation and that specifies the effective date. The clerk of the court shall deliver a certified copy of a dissolution decree to the commission which shall file it.

Terms Used In Arizona Laws 10-1433

  • Commission: means the Arizona corporation commission. See Arizona Laws 10-140
  • 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.
  • Court: means the superior court of this state. See Arizona Laws 10-140
  • Deliver: includes sending by mail, private courier, fax or electronic transmission. See Arizona Laws 10-140

B. After entering a decree of dissolution, the court shall direct the winding up and liquidation of the corporation’s business and affairs in accordance with section 10-1405 and the notification of claimants in accordance with sections 10-1406 and 10-1407.

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