30.0121 Voluntary dissolution.

Cite as [A.S.C.A. § 30.0121]

(a) A corporation may be dissolved in accordance with the provisions of its articles or when 2/3 in interest of all the stock outstanding votes in favor of a dissolution at a stockholders meeting called for that purpose.

(b) Corporations whose certificate of incorporation expires by limitation or the voluntary act of the stockholders may nevertheless continue to act for the purpose of winding up their affairs.

History: 1962, PL 7-20.