§ 17-16-1421 — Procedure for and effect of administrative dissolution

Wyoming § 17-16-1421

• Jurisdiction: Wyoming
• Title 17: Corporations, Partnerships and Associations
• Ch. 16: WYOMING BUSINESS CORPORATION ACT
• Art. 14: DISSOLUTION

Text

(a) If the secretary of state determines that one (1) or
more grounds exist under W.S. 17-16-1420 for dissolving a
corporation, he shall serve the corporation with written notice
of his determination under W.S. 17-28-104, except for W.S.
17-16-1420(a)(v) in which case dissolution is by choice and
therefore automatic.
(b) If the corporation does not correct each ground for
dissolution or demonstrate to the reasonable satisfaction of the
secretary of state that each ground determined by the secretary
of state does not exist within sixty (60) days after service of
the notice is perfected under W.S. 17-28-104, the secretary of
state shall administratively dissolve the corporation by
signing, either manually or in facsimile, a certificate of
dissolution that recites the ground or grounds for dissolution
and its effective date. The secretary of state shall file the
original of the certificate and serve a copy on the corporation
under W.S. 17-28-104.
(c) A corporation administratively dissolved under W.S.
17-16-1420 continues its corporate existence but may not carry
on any business except that necessary to wind up and liquidate
its business and affairs under W.S. 17-16-1405 and notify
claimants under W.S. 17-16-1406 and 17-16-1407.
(d) The administrative dissolution of a corporation does
not terminate the authority of its registered agent.