9-4-926 - Asset disposition upon dissolution of corporation.
9-4-926. Asset disposition upon dissolution of corporation.
Upon dissolution of the corporation:
(1) all liabilities and obligations of the corporation, including obligations to bondholders,shall be paid, satisfied, discharged, or adequately provided for; and
(2) all remaining funds, property, rights, claims, and interests of the corporation shallrevert or be conveyed to the state.
Enacted by Chapter 319, 2001 General Session