dissolution of corporation
Termination of a corporation with the Secretary of State or state corporations division by filing documents to withdraw the corporation as a business entity. Dissolution can either be started voluntarily, by resolution of the shareholders, or involuntarily, for not paying corporate taxes or some other action of the government.
Category: Business, LLCs & Corporations → LLCs, Corporations, Partnerships, etc.

Nolo’s Plain-English Law Dictionary. . 2009.

dissolution of corporation
n.
   termination of a corporation, either a) voluntarily by resolution, paying debts, distributing assets and filing dissolution documents with the Secretary of State; or b) by state suspension for not paying corporate taxes or some other action of the government.
   See also: corporation

Law dictionary. . 2013.

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