Current through the 2024 Fourth Special Session
Section 16-6a-1401 - Dissolution by incorporators or directors if no members(1) If a nonprofit corporation has no members, the following may authorize the dissolution of the nonprofit corporation: (a) a majority of its directors; or(b) if it has no directors, a majority of its incorporators.(2) The directors or incorporators in approving dissolution shall adopt a plan of dissolution indicating to whom the assets owned or held by the nonprofit corporation will be distributed after all creditors have been paid.Enacted by Chapter 300, 2000 General Session.