(a) The attorney-general may bring an action for the dissolution of a
corporation upon one or more of the following grounds:
(1) That the corporation procured its formation through fraudulent
misrepresentation or concealment of a material fact.
(2) That the corporation has exceeded the authority conferred upon it
by law, or has violated any provision of law whereby it has forfeited
its charter, or carried on, conducted or transacted its business in a
persistently fraudulent or illegal manner, or by the abuse of its powers
contrary to the public policy of the state has become liable to be
dissolved.
(b) An action under this section is triable by jury as a matter of
right.
(c) The enumeration in paragraph (a) of grounds for dissolution shall
not exclude actions or special proceedings by the attorney-general or
other state officials for the annulment or dissolution of a corporation
for other causes as provided in this chapter or in any other statute of
this state.
Structure New York Laws
Article 11 - Judicial Dissolution
1101 - Attorney-General's Action for Judicial Dissolution.
1102 - Directors' Petition for Judicial Dissolution.
1103 - Shareholders' Petition for Judicial Dissolution.
1104 - Petition in Case of Deadlock Among Directors or Shareholders.
1104-A - Petition for Judicial Dissolution Under Special Circumstances.
1105 - Contents of Petition for Judicial Dissolution.
1106 - Order to Show Cause; Issuance; Publication, Service, Filing.
1110 - Application for Final Order.
1111 - Judgment or Final Order of Dissolution.
1113 - Preservation of Assets; Appointment of Receiver.
1114 - Certain Sales, Transfers, Security Interests and Judgments Void.
1116 - Discontinuance of Action or Special Proceeding.