What does Articles of dissolution mean?
An article of dissolution is a document which is filed to effect and formalize the cessation of an incorporated organization. In other words, it is an official document filed prior to dissolution of a partnership or corporation which mentions the provisions for the distribution of assets.
How do I dissolve an S corporation in Georgia?
A corporation dissolves by filing Articles of Dissolution. The applicable Georgia Code sections are O.C.G.A….The articles of dissolution must state:
- The name of the corporation;
- The date on which the notice of intent to dissolve was filed and a statement that the notice has not been revoked;
How do I dissolve a nonprofit organization in Georgia?
A nonprofit corporation that has commenced activities may dissolve by filing a Notice of Intent to Dissolve pursuant to O.C.G.A. 14-3- 1404 and Articles of Dissolution pursuant to O.C.G.A. 14-3-1409. Form CD 525 and CD 530 may be used for this purpose.
How do I close a business in Georgia?
How do you dissolve a Georgia Limited Liability Company? To end a Georgia LLC, just file form CD-415, Certificate of Termination, with the Georgia Secretary of State, Corporations Division (SOS). The certificate of termination is available on the Georgia SOS website or your Northwest Registered Agent online account.
How do you write an article of dissolution?
You can prepare articles of dissolution by filling out a form on the state agency’s website responsible for business filings in your state. In most states, that’s the secretary of state.
How do you write a business dissolution?
Basic Letter of Dissolution Elements
- The name of the recipient and the name of the person sending the letter.
- The purpose of the letter, including the relationship to be terminated and the date of termination, stated in the first paragraph.
What happens to assets of a nonprofit?
Your organization is required by law to transfer all remaining assets to another tax-exempt organization or to the government. The nonprofit can, however, sell its assets, as long as the individual or entity purchasing the asset is paying a reasonable amount, ideally the “fair market value.”
