Title 14, Chapter 3, Section 1406
( 14-3-1406)
A corporation that has filed a notice of intent to dissolve
continues its corporate existence but may not carry on any business
except that appropriate to wind up and liquidate its business and
affairs, including: (1) Collecting its assets; (2) Disposing of its properties that will not be distributed in
kind in accordance with the plan of dissolution; (3) Discharging or making provision for discharging its
liabilities; (4) Distributing its remaining property among its members in
accordance with the plan of dissolution; and (5) Doing every other act necessary to wind up and liquidate its
business and affairs. |