Sec. 33-885. Requirements prior to final liquidating distribution of assets.
Sec. 33-885. Requirements prior to final liquidating distribution of assets. No
final liquidating distribution of assets shall be made to shareholders by a dissolved
corporation until the corporation has obtained a current statement or statements from
the Commissioner of Revenue Services and the administrator of the unemployment
compensation law, acting in their respective capacities, showing, to the best of their
knowledge and belief, as of the date of such respective statements, either that such
corporation has paid all its taxes and contributions or that it was not liable for any taxes
or contributions, or that it has made adequate provisions, with such surety as shall be
satisfactory to said commissioner and said administrator, for the future payment of any
of its unpaid taxes and unpaid contributions as of the date of such respective statements.
As used in this section, the word "tax" means the whole, or any installment or part, of
any tax, excise, fee or license and any interest, penalty and other legal accumulation
thereon, payable to the Commissioner of Revenue Services, for which the corporation
is liable and the word "contribution" means any and all moneys payable under any
provision of the unemployment compensation law, for which the particular corporation
is liable.
(P.A. 94-186, S. 166, 215.)
History: P.A. 94-186 effective January 1, 1997.
Annotation to former section 33-380:
Cited. 236 C. 722.