What is the process for voluntary corporate dissolution?

Voluntary corporate dissolution is the process of legally dissolving a corporation. In Indiana, voluntary corporate dissolution can be done by the owners of the corporation, or they can hire a lawyer to help them through the process. The process varies slightly depending on the type of corporation in Indiana. For a joint-stock corporation, the directors must adopt a resolution to dissolve the corporation. This resolution should explain why the corporation is being dissolved, and list the names of all the directors who voted in favor of the resolution. After adoption of the resolution, the directors must provide notice of the dissolution to the Indiana secretary of state. A limited liability company in Indiana can be dissolved by resolution of all the members of the company. The resolution should also explain why the company is being dissolved. The members must also provide notice of the dissolution to the Indiana secretary of state. After issuing the notice of dissolution, the corporation is required to wind up its affairs and liquidate its assets. This includes collecting money owed to the corporation, paying all the creditors, distributing the remaining assets to the owners, and closing any accounts with financial institutions. The corporation must then file a certificate of dissolution with the Indiana secretary of state and the county recorder in the county where the corporation was formed. Once the certificate has been approved, the corporation is dissolved.

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What is the process for voluntary corporate dissolution?

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