Louisiana Revised Statutes 12:1-1440 – Articles of termination
Terms Used In Louisiana Revised Statutes 12:1-1440
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
A. When the board of directors, or the liquidator acting during the liquidator’s appointment, determines that the corporation has completed the winding up and liquidation of its business and affairs, the board of directors or liquidator may cause the corporation to deliver to the secretary of state for filing articles of termination.
B. The articles of termination shall state all of the following:
(1) The name of the corporation.
(2) The date of its dissolution.
(3) Whether its dissolution was voluntary or judicial.
(4) That the corporation has paid or made reasonable provision for the payment of all of its liabilities.
(5) That the net assets of the corporation remaining after winding up have been distributed to the shareholders.
C. If the articles of termination are signed by a liquidator, the secretary of state shall not file the articles unless the articles have attached or appended to them a certified copy of the court order that authorizes the liquidator to wind up the affairs of the corporation.
Acts 2014, No. 328, §1, eff. Jan. 1, 2015.