Definition of Article of Dissolution
An official document filed to formalize the cessation of an incorporated organization prior to its dissolution is called an article of dissolution. It mentions provisions for distributing assets. To dissolve a partnership, all partners must agree and sign a dissolution agreement outlining terms like asset distribution.
Importance of Filing Articles of Dissolution
Formally dissolving a business by filing articles of dissolution protects against future liability when closing. Pay taxes and creditors before closing.
Requirement of Filing Articles of Dissolution
Most states require filing articles of dissolution with the Secretary of State to close a corporation or LLC. Check your state’s requirements. A nonprofit conducting activities may dissolve by filing a Notice of Intent to Dissolve and Articles of Dissolution.
Additional Information
If a company owes back taxes, a state may require returning to good standing before allowing dissolution.
Process for Formal Closure
The Articles of Dissolution or Certificate of Termination filed with the Secretary of State where the company formed generally closes it. The document outlines dissolution details like date, shareholders, asset distribution.
Release from Obligations
When a Corporation or LLC files as active at the Secretary of State, it has obligations like paying state fees and taxes. Articles of Dissolution free it from these obligations by notifying the state it closed. Before dissolving, tie up loose ends.
Apostille Process
To apostille Articles of Dissolution, have them notarized, submit to the Secretary of State where the business was established, and request the apostille seal.
Obtaining a Copy of Articles of Incorporation
How do I get a copy of my articles of incorporation in Arkansas?