Virginia § 13.1-751 Termination of corporate existence by incorporators or initial directors

Virginia Statutes

§ 13.1-751 — Termination of corporate existence by incorporators or initial directors

Virginia § 13.1-751

Title 13.1Corporations

Ch. 9Virginia Stock Corporation Act

Art. 16Dissolution

This text of Virginia § 13.1-751 (Termination of corporate existence by incorporators or initial directors) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 13.1-751 (2026).

Text

A majority of the initial directors, or, if initial directors were not named in the articles of incorporation and have not been elected, a majority of the incorporators of a corporation that has not issued shares or has not commenced business may dissolve the corporation and terminate its corporate existence by filing with the Commission articles of termination of corporate existence that set forth:

1.The name of the corporation;

2.The date of its incorporation;

3.Either (i) that none of the corporation's shares have been issued or (ii) that the corporation has not commenced business;

4.That no debt of the corporation remains unpaid;

5.That the net assets of the corporation remaining after winding up have been distributed to the shareholders, if shares were issued; and

6.That a

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A majority of the initial directors, or, if initial directors were not named in the articles of incorporation and have not been elected, a majority of the incorporators of a corporation that has not issued shares or has not commenced business may dissolve the corporation and terminate its corporate existence by filing with the Commission articles of termination of corporate existence that set forth:

1. The name of the corporation;

2. The date of its incorporation;

3. Either (i) that none of the corporation's shares have been issued or (ii) that the corporation has not commenced business;

4. That no debt of the corporation remains unpaid;

5. That the net assets of the corporation remaining after winding up have been distributed to the shareholders, if shares were issued; and

6. That a majority of the initial directors authorized the dissolution or that initial directors were not named in the articles of incorporation and have not been elected and a majority of the incorporators authorized the dissolution.