What is the process for voluntary corporate dissolution?

Voluntary corporate dissolution is the process by which a corporation in Washington dissolves itself on its own volition. The process for voluntary corporate dissolution is governed by Title 48 of the Revised Code of Washington (RCW). The first step in the process is for the existing shareholders of the corporation to vote and pass a resolution that states the intent to dissolve the corporation. This resolution needs to be signed by the majority of the shareholders, as well as the president and secretary of the company, and must include the name of the corporation, the date the resolution was passed, and the purpose of the dissolution. This resolution must also be filed with the Washington Secretary of State. Once the resolution is filed, the corporation is required to pay off its debts and liabilities, and settle any claims of its creditors. It is also important to note that in order to dissolve the corporation, all of its assets must be liquidated and distributed to its shareholders. The final step in the dissolution process is the filing of a Certificate of Dissolution with the Washington Secretary of State. This document must include the name of the corporation, the county where its principal office is located, the date of the dissolution resolution, and the signature of the president and secretary of the company. Once the Certificate of Dissolution is filed, the corporation is officially dissolved and no longer exists under the law. It is important to understand that the details of the dissolution process vary depending on the type of corporation and the laws of the state in which it is located. Therefore, it is recommended that one seek the help of a lawyer to ensure that all steps are properly taken and all legal requirements are met.

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What is the process for voluntary corporate dissolution?

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