§ 7-6-69 - Continuation of certain corporate powers.
SECTION 7-6-69
§ 7-6-69 Continuation of certain corporatepowers. – Any corporation dissolved in any manner under this chapter or any corporationwhose certificate of incorporation is revoked by the secretary of state under§ 7-6-56 nevertheless continues for five (5) years after the date of thedissolution or revocation for the purpose of enabling it to settle and closeout its affairs, to dispose of and convey its property, to discharge itsliabilities, and to distribute its assets, but not for the purpose ofcontinuing the activities for which it was organized. The members, directors,and officers have power to take any corporate or other action that isappropriate to carry out the purposes of this section.