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- The date on which the notice of intent to dissolve was filed and a statement that the notice has not been revoked;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?
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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.
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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.”