§ 55A-14-05. Revocation of dissolution.
§55A‑14‑05. Revocation of dissolution.
(a) A corporation mayrevoke its dissolution authorized under G.S. 55A‑14‑02 within 120days of its effective date.
(b) Revocation ofdissolution shall be authorized in the same manner as the dissolution wasauthorized unless an authorization under G.S. 55A‑14‑02 permittedrevocation by action of the board of directors alone, in which event the boardof directors may revoke the dissolution without action by the members or anyother person.
(c) After therevocation of dissolution is authorized, the corporation may revoke thedissolution by delivering to the Secretary of State for filing articles ofrevocation of dissolution, together with a copy of its articles of dissolution,that set forth:
(1) The name of thecorporation;
(2) The effective dateof the dissolution that was revoked;
(3) The date that therevocation of dissolution was authorized;
(4) If the corporation'sboard of directors revoked the dissolution, a statement to that effect;
(5) If the corporation'sboard of directors revoked a dissolution authorized by the members alone or inconjunction with another person or persons, a statement that revocation waspermitted by action by the board of directors alone pursuant to thatauthorization; and
(6) If member or thirdperson action was required to revoke the dissolution, a statement that theaction was taken as required.
(d) Revocation ofdissolution is effective upon the effective date of the articles of revocationof dissolution.
(e) When the revocationof dissolution is effective, it relates back to and takes effect as of theeffective date of the dissolution and the corporation resumes carrying on itsactivities as if dissolution had never occurred, subject to the rights of anyperson who reasonably relied to his prejudice upon the filing of the articlesof dissolution. (1955, c. 1230; 1993, c. 398, s. 1.)