Court-ordered corporate termination. Court must be in the state where the company incorporated. Request for dissolution typically from the state attorney general (AG )or shareholders (SH) if the company is publically traded. If a company fails to comply with state tax laws and regulations, like administration or statutory regulations, the AG can petition for dissolution. Abuse of power, fraudulent activities, and other illegal acts are cause for a dissolution petition by shareholders. Even a deadlock situation between the directors when shareholders cannot break the deadlock is reason for a shareholder to file a petition for dissolution.
What is JUDICIAL DISSOLUTION?
Featuring Black’s Law Dictionary
Nothing implied or stated on this page should be construed to be legal, tax, or professional advice. The Law Dictionary is not a law firm and this page should not be interpreted as creating an attorney-client or legal adviser relationship. For questions regarding your specific situation, please consult a qualified attorney.
- How Long is a Life Sentence?
- What is Entrapment?
- A Guide to the Types & Classes of Bankruptcy
- A Simple Guide to Medicare vs Medicaid
- What are the Miranda Rights?
- Property Management Law
- How Arbitration Works
- What is the Fourth Amendment?
- How To Start a Sole Proprietorship
- What Does Emancipation Mean?
- What Is A Police Welfare Check?
- Best Way to Find Someone in Jail for Free
- How to Transfer a Car Title When The Owner Is Deceased
- How To Find A Name & Address Using A License Plate Number
- What Can You Do At 18 Legally?
- Best Way to Write a Professional Letter to a Judge
- Why Do Policemen Touch Your Tail Light When They Pull You Over?
- How To Find An Inmate’s Release Date
- Signing a Letter on Someone Else’s Behalf
- How Do You Look up License Plate Numbers?