A majority of the incorporators or initial directors of a corporation that has not issued shares or has not commenced business may dissolve the corporation by delivering to the Secretary of State for filing articles of dissolution that set forth:
(1) the name of the corporation;
(2) the date of its incorporation;
(3) either (i) that none of the corporation's shares has been issued or (ii) that the corporation has not commenced business;
(4) that no debt of the corporation remains unpaid;
(5) that the net assets of the corporation remaining after winding up have been distributed to the shareholders, if shares were issued; and
(6) that a majority of the incorporators or initial directors authorized the dissolution.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 3 - Corporations and Associations
Chapter 27 - Business Corporation Act of 1987
Part A - : Voluntary Dissolution
§ 4-27-1401. Dissolution by incorporators or initial directors
§ 4-27-1402. Dissolution by board of directors and shareholders
§ 4-27-1403. Articles of dissolution
§ 4-27-1404. Revocation of dissolution
§ 4-27-1405. Effect of dissolution