A corporation that has or has not commenced business and has not issued any shares may be voluntarily dissolved by its incorporators in the following manner:

A. articles of dissolution shall be executed by a majority of the incorporators and shall set forth:

(1)     the name of the corporation;

(2)     the date of issuance of its certificate of incorporation; (3)     that none of its shares has been issued;

(4)     that the corporation has or has not commenced business;

(5)     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;

(6)     that no debts of the corporation remain unpaid; and

(7)     that a majority of the incorporators elect that the corporation be dissolved; B. the original of the articles of dissolution together with a copy, which may be signed, photocopied or conformed, shall be delivered to the commission [secretary of state]. If the commission [secretary of state] finds that the articles of dissolution conform to law and that the corporation has complied with the Tax Administration Act [N.M. Stat. Ann. Chapter 7, Article 1] and has paid all contributions required by the Unemployment Compensation Law [N.M. Stat. Ann. Chapter 51], it shall, when all fees have been paid:

(1)     endorse on the original and copy the word “filed” and the month, day and year of the filing;

(2)     file the original in its office; and

(3)     issue a certificate of dissolution to which it shall affix the file-stamped copy; and

C. the certificate of dissolution, together with the file-stamped copy of the articles of dissolution affixed to it, shall be returned by the commission [secretary of state] to the incorporators or their representative. Upon the issuance of the certificate of dissolution by the commission [secretary of state] the existence of the corporation shall cease.