Set name in the Plan of Dissolution

Aug 6th, 2022
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Dissolved companies have gone through the liquidation process, meaning they have been removed from the Companies House register. Going through this process means they have no legal existence. Because dissolved companies dont have a legal existence, you can reuse the name for your own company.
Since its not allowed to reactive dissolved businesses, especially if it was voluntarily and legally filed, you will need to go through the process of starting a new company with a new name. Ultimately, its about doing the same thing you did with your first enterprise: registration, licensing, fees and others.
Administrative Dissolution (Forfeiture) A business entity that has been administratively dissolved is given the status forfeited. If the business wishes to become active again, it must file a reinstatement. Once a business is forfeited, the business name becomes available.
Administrative dissolution is the taking away of the rights, powers, and authority of a domestic corporation, LLC, or other statutory business entity by the state administrator overseeing business entities, due to the entitys failure to comply with certain obligations of the business entity statute.
If the leadership of the organization decides that winding down is the best option, the organization will need a plan of dissolution. A plan of dissolution is essentially a written description of how the nonprofit intends to distribute its remaining assets and address its remaining liabilities.
Once a company is dissolved, it no longer exists as a legal entity and cannot conduct business or enter into contracts. Dissolution may also trigger a number of certain legal obligations, such as the distribution of remaining assets to creditors or shareholders. It also might involve the filing of final tax returns.
(5) A limited liability company that has been administratively dissolved continues in existence but may only carry on activities necessary to wind up its activities and affairs, liquidate and distribute its assets, and notify claimants under ss.
What does administrative dissolution mean? It means the corporation or limited liability company was administratively dissolved by the Secretary of State in ance with Georgia law. Upon dissolution, an entity may no longer carry on any business other than to wind up and liquidate its business and affairs.

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