Section 13.1-913 - Termination of corporate existence by incorporators or initial directorsA majority of the initial directors or, if initial directors were not named in the articles of incorporation and have not been elected, the incorporators of a corporation that 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. That the corporation has not commenced business;3. That no debt of the corporation remains unpaid;4. That the net assets of the corporation remaining after winding up have been distributed; and5. 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.1985, c. 522; 1986, c. 234; 2007, c. 925.Amended by Acts 2007, § c. 925.Amended by Acts 1986, § c. 234.Amended by Acts 1985, § c. 522.