§ 7-1.2-1320. Decree of involuntary dissolution.
In proceedings to liquidate the assets and business of a corporation, when the costs and expenses of the proceedings and all debts, obligations, and liabilities of the corporation have been paid and discharged and all of its remaining property and assets distributed to its shareholders, or in case its property and assets are not sufficient to satisfy and discharge the costs, expenses, debts, and obligations, all the property and assets have been applied as far as they will go to their payment, the court shall enter a decree dissolving the corporation, at which time the existence of the corporation ceases.
History of Section.P.L. 2004, ch. 216, § 2; P.L. 2004, ch. 274, § 2.
Structure Rhode Island General Laws
Title 7 - Corporations, Associations and Partnerships
Chapter 7-1.2 - Rhode Island Business Corporation Act
Part 13 - Dissolution and Revocation
Section 7-1.2-1301. - Voluntary dissolution by incorporators.
Section 7-1.2-1302. - Voluntary dissolution by consent of shareholders.
Section 7-1.2-1303. - Voluntary dissolution by act of corporation.
Section 7-1.2-1304. - Revocation of voluntary dissolution proceedings by consent of shareholders.
Section 7-1.2-1305. - Revocation of voluntary dissolution proceedings by act of corporation.
Section 7-1.2-1306. - Filing of statement of revocation of voluntary dissolution proceedings.
Section 7-1.2-1307. - Effect of statement of revocation of voluntary dissolution proceedings.
Section 7-1.2-1308. - Articles of dissolution.
Section 7-1.2-1309. - Filing of articles of dissolution.
Section 7-1.2-1310. - Revocation of articles of incorporation.
Section 7-1.2-1311. - Issuance of certificates of revocation.
Section 7-1.2-1312. - Withdrawal of certificate of revocation.
Section 7-1.2-1313. - Appeal from revocation of articles of incorporation.
Section 7-1.2-1314. - Jurisdiction of court to liquidate assets and business of corporation.
Section 7-1.2-1315. - Avoidance of dissolution by share buyout.
Section 7-1.2-1316. - Procedure in liquidation of corporation by court.
Section 7-1.2-1317. - Bond of receivers.
Section 7-1.2-1318. - Filing of claims in liquidation proceedings.
Section 7-1.2-1319. - Discontinuance of liquidation proceedings.
Section 7-1.2-1320. - Decree of involuntary dissolution.
Section 7-1.2-1321. - Filing of decree of dissolution.
Section 7-1.2-1322. - Deposit with state treasury of amount due certain shareholders.
Section 7-1.2-1323. - Jurisdiction of court to appoint a receiver.
Section 7-1.2-1324. - Survival of remedy after dissolution.
Section 7-1.2-1325. - Continuation of certain corporate powers.