(a) If after a hearing the court determines that one or more grounds for judicial dissolution described in Section 10A-2A-14.10 exist, it may enter a decree dissolving the corporation and specifying the effective date of the dissolution, and the clerk of the court shall deliver a certified copy of the decree to the Secretary of State for filing.
(b) After entering the decree of dissolution, the court shall direct the winding-up and liquidation of the corporation's business and affairs in accordance with Section 10A-2A-14.05 and the notification of claimants in accordance with Sections 10A-2A-14.06 and 10A-2A-14.07.
Structure Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 2A - Alabama Business Corporation Law.
Division B - Judicial Dissolution.
Section 10A-2A-14.10 - Grounds for Judicial Dissolution.
Section 10A-2A-14.11 - Procedure for Judicial Dissolution.
Section 10A-2A-14.12 - Receivership or Custodianship.
Section 10A-2A-14.13 - Decree of Dissolution.
Section 10A-2A-14.14 - Election to Purchase in Lieu of Dissolution.