26-2415. DISSOLUTION. The corporation may upon the affirmative vote of two-thirds (2/3) of the votes to which the stockholders shall be entitled and two-thirds (2/3) of the votes to which the members shall be entitled dissolve said corporation as provided by sections 30-1-82 through 30-1-93, Idaho Code, insofar as those sections are not in conflict with the provisions of this act. Upon any dissolution of the corporation, none of the corporation’s assets shall be distributed to the stockholders until all sums due the members of the corporation as creditors thereof have been paid in full.
History:
[(26-2415) 1963, ch. 273, sec. 15, p. 695; I.C., sec. 30-1515 (1963 Supp.); am. 1980, ch. 197, sec. 25, p. 452.]
Structure Idaho Code
Chapter 24 - INDUSTRIAL DEVELOPMENT CORPORATIONS
Section 26-2401 - DEFINITIONS.
Section 26-2402 - WHO MAY INCORPORATE.
Section 26-2403 - POWERS OF THE CORPORATION.
Section 26-2404 - RIGHT TO PURCHASE OR TRANSFER CAPITAL STOCK OR OBLIGATIONS OF CORPORATION.
Section 26-2405 - APPLICATION FOR MEMBERSHIP — LOANS.
Section 26-2406 - DURATION OF MEMBERSHIP.
Section 26-2407 - POWERS OF STOCKHOLDERS AND MEMBERS.
Section 26-2408 - AMENDMENT TO ARTICLES OF INCORPORATION.
Section 26-2409 - BUSINESS OF CORPORATION MANAGED BY BOARD OF DIRECTORS.
Section 26-2410 - EARNED SURPLUS.
Section 26-2411 - DEPOSITS IN BANKS.
Section 26-2412 - ANNUAL FINANCIAL EXAMINATION.
Section 26-2414 - DURATION OF CORPORATION.
Section 26-2415 - DISSOLUTION.
Section 26-2416 - CREDIT OF STATE NOT PLEDGED.
Section 26-2417 - CORPORATION DEEMED A STATE DEVELOPMENT COMPANY.