N.D. Cent. Code § 10-19.1-121
This is the official text of N.D. Cent. Code § 10-19.1-121, part of North Dakota’s Cent. Code — part of the compiled statutory law of North Dakota, published by the state as "Cent. Code." Browse the sections below, each linked to its official government source.
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10-19.1-121. Decree of dissolution
Official statutory text
10-19.1-121. Decree of dissolution
1. In an involuntary or supervised voluntary dissolution after the costs and expenses of
the proceedings and all debts, obligations, and liabilities of the corporation have been
paid or discharged and all of its remaining property and assets have been distributed
to its shareholders or, if its property and assets are not sufficient to satisfy and
discharge the costs, expenses, debts, obligations, and liabilities, when all the property
and assets have been applied so far as they will go to their payment according to the
priorities set forth in section 10-19.1-116, the court shall enter a decree dissolving the
corporation.
2. When the decree dissolving the corporation has been entered, the corporation is
dissolved.
1. In an involuntary or supervised voluntary dissolution after the costs and expenses of
the proceedings and all debts, obligations, and liabilities of the corporation have been
paid or discharged and all of its remaining property and assets have been distributed
to its shareholders or, if its property and assets are not sufficient to satisfy and
discharge the costs, expenses, debts, obligations, and liabilities, when all the property
and assets have been applied so far as they will go to their payment according to the
priorities set forth in section 10-19.1-116, the court shall enter a decree dissolving the
corporation.
2. When the decree dissolving the corporation has been entered, the corporation is
dissolved.
Status: in_force · Read it on the official government site
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