§ 7-1.2-1325. Continuation of certain corporate powers.
Any corporation dissolved in any manner under this chapter or any corporation whose existence is terminated under § 44-12-8 or any corporation whose articles of incorporation are revoked by the secretary of state under § 7-1.2-1310 nevertheless continues for five (5) years after the date of the dissolution, termination, or revocation for the purpose of enabling it to settle and close its affairs, to dispose of and convey its property, to discharge its liabilities, and to distribute its assets, but not for the purpose of continuing the business for which it was organized. The shareholders, directors, and officers have power to take any corporate or other action that is appropriate to carry out the purposes of this section.
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.