§ 27-1-10-1 — Surrender of certificate of incorporation; time; procedure

With the approval in writing of the department,
the incorporators named in the articles of incorporation of any
corporation organized under the provisions of this article may surrender
the certificate of incorporation and all of the corporate rights and
franchises of the corporation at any time within one (1) year from the
date of the issuance of the certificate and before the issuance of any of
the shares of capital stock of the corporation and before the beginning
by it of the business for which it was formed, by presenting to the
secretary of state at his office, accompanied by the fees prescribed by
law, a certificate in triplicate, signed and verified by the joint and
several oaths of a majority of the incorporators in the form prescribed
by the secretary of state, showing that no shares of the capital stock of
the corporation have been issued and that the amount, if any, actually
paid in on the shares, less any part thereof disbursed for necessary
expenses, had been returned to those entitled thereto, that such
business has not been begun, that no debts remain unpaid, and that they
surrender all rights and franchises.
Formerly: Acts 1935, c.162, s.131. As amended by
P.L.252-1985, SEC.47.