Illinois Compiled Statutes 805 ILCS 5/12.10 – Voluntary dissolution by written consent of all shareholders
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Dissolution of a corporation may be authorized by the unanimous consent in writing of the holders of all outstanding shares entitled to vote on dissolution.
Dissolution pursuant to this Section does not require any vote or action of the directors of the corporation.
Dissolution pursuant to this Section does not require any vote or action of the directors of the corporation.
Terms Used In Illinois Compiled Statutes 805 ILCS 5/12.10
- 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.