Usually the shareholders approve a dissolution action proposed by the board of directors. The voting requirement necessary for dissolution ranges between a simple majority to 2/3rds of all voting shares.
Requirements:
-
Board of Director's Proposal to Dissolve Corporation
-
Approval of Shareholders
Dissolving a Corporation:
Corporate Action
Filing With the State
Notification to Creditors
Handling Creditors' Claims
Distribution of Remaining Assets
