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The document outlines the procedures for voluntarily dissolving a business corporation in North Carolina, detailing the roles of directors and shareholders in the dissolution process. It explains the necessary steps to file articles of dissolution, the requirements for notifying claimants about the dissolution, and how to handle known and unknown claims against the dissolved corporation. Additionally, it provides forms and instructions for completing each step of the dissolution process.

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What is the difference between dissolve and withdrawal?

In most states, dissolution describes the process of closing a corporate entity in its state of formation. Withdrawal filings allow an entity to remove its registration in a foreign qualified state and continue to exist in the state of formation or domicile.

Do you need a plan of dissolution?

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.

What does it mean if a company is administratively dissolved?

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.

What is the plan of merger in NC?

Plan of merger. (a) Each merging entity must approve a written plan of merger containing all of the following: (1) The name, type of entity, and jurisdiction whose law governs the organization and internal affairs of each merging entity immediately before the merger. (2) The name of the surviving entity.

What is the NC plan of dissolution?

A plan for voluntary dissolution of a North Carolina corporation. This document can be used as a standalone plan or incorporated into board or shareholders resolutions. This Standard Document has integrated notes with important explanations and drafting and negotiating tips.

how to dissolve an llc in nc online

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How to dissolve a company in NC?

Dissolving an LLC in North Carolina involves five essential steps: Vote to formally dissolve the LLC. Wind up all business operations and affairs. Notify creditors, claimants, and vendors about the dissolution. Settle final tax liabilities. File articles of dissolution with the NC Secretary of State.

How to dissolve a NC corporation?

If you want to close a North Carolina business, you do so by voluntarily filing Articles of Dissolution for the entity type (Business Corporation, Nonprofit Corporation, Limited Liability Company (LLC)).

Nc dissolve 2025

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