Iowa Articles of Revocation of Dissolution [490.1404] are legal documents that allow a company in the state of Iowa to legally end the dissolution of a business. The document must be signed by at least one director or officer of the company and is filed with the Iowa Secretary of State. This document allows the company to undo the dissolution process and resume its operations. There are two types of Iowa Articles of Revocation of Dissolution [490.1404]: Domestic Revocation and Foreign Revocation. The Domestic Revocation is for a company that is located in Iowa and the Foreign Revocation is for a company that is located outside of Iowa. The document must include the name of the company, the state or country of incorporation, the date of the dissolution, and the current address of the company. The document should also include the name and address of the company's registered agent. Once the document is filed with the Iowa Secretary of State, the dissolution process will be reversed and the company will be able to continue its operations.
Iowa Articles of Revocation of Dissolution [490.1404]
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FAQ
Liquidation of Assets After a company is dissolved, it must liquidate its assets. Liquidation refers to the process of sale or auction of the company's non-cash assets. Note that only those assets your company owns can be liquidated. Thus, you can't liquidate assets that are used as collateral for loans.
How do you dissolve an Iowa Corporation? To dissolve your Iowa corporation, file Articles of Dissolution with the Secretary of State (SOS). There is no SOS dissolution form. Draft your Articles of Dissolution and submit the document and filing fee to the Iowa Secretary of State, Business Services Division (SOS).
Revocation refers to cases in which the Articles of Incorporation for a Corporation or Articles of Organization for an LLC are revoked by the Secretary of State. Another term for Revocation is Administrative Dissolution.
Shareholders must authorize the liquidation and dissolution of the corporation by special resolution. If there is more than one class or group of shareholders, each class or group must pass a special resolution to authorize the dissolution even if these shareholders are not otherwise entitled to vote.
While there is no legal requirement that a corporation must dissolve if it's no longer doing business, there are good reasons to do so. A small business that remains incorporated, even if it is inactive, must continue to file state and federal income taxes, even if it did no business during the year and had no income.
Dissolving a corporation successfully takes several key steps. Such requirements may vary across the fifty states. Generally, it is recommended that business owners get legal assistance to file the necessary documents with the proper state agencies.