If a majority of the board adopts a resolution that finds that the
assets of a corporation are not sufficient to discharge its liabilities
or that a dissolution will be beneficial to the shareholders, it may
present a petition for its dissolution.
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.