North Dakota Nonprofit Corporation Articles of Dissolution are documents used to formally dissolve a nonprofit corporation in the state of North Dakota. These documents must be filed with the Secretary of State in order to legally dissolve the nonprofit. This process is typically used when a nonprofit has completed its purpose and is no longer needed, or if the nonprofit is merging into another organization. There are two types of North Dakota Nonprofit Corporation Articles of Dissolution: voluntary and involuntary. The voluntary dissolution is when the nonprofit’s board of directors decides to dissolve the organization, while the involuntary dissolution is when the nonprofit is dissolved by the Secretary of State due to non-compliance with filing requirements. The Articles of Dissolution must include the name of the nonprofit, its date of incorporation, the date of dissolution, the names and signatures of the board of directors, the effective date of dissolution, and any other provisions that may be required. Once the Articles of Dissolution have been filed, the nonprofit must also submit a Certificate of Dissolution to the Secretary of State.
North Dakota NONPROFIT CORPORATION ARTICLES of DISSOLUTION
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How to fill out North Dakota NONPROFIT CORPORATION ARTICLES Of DISSOLUTION?
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FAQ
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.
There are two filing options when you dissolve your North Dakota LLC. You can file either the Articles of Dissolution by Organizers or the Articles of Dissolution by Members. The Articles of Dissolution by Organizers does not require the filing of a Notice of Dissolution with the North Dakota Secretary of State (SOS).
If the leadership of the organization decides that winding down is the best option, the organization will need a ?plan of dissolution.? A plan of dissolution is essentially a written description of how the nonprofit intends to distribute its remaining assets and address its remaining liabilities.
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.
Steps to dissolving a nonprofit File a final form. In this type of dissolution, the IRS mandates that the board of directors of the nonprofit organization complete certain requirements to "dissolve," or shut down, the 501(c)(3).Vote for dissolution.File Form 990.File the paperwork.
Articles of Dissolution, known in North Dakota as Articles of Dissolution and Termination, are the forms that you file to voluntarily dissolve your LLC. Once this document has been filed and processed, your LLC will no longer legally exist.
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.
There are two filing options when you dissolve your North Dakota LLC. You can file either the Articles of Dissolution by Organizers or the Articles of Dissolution by Members. The Articles of Dissolution by Organizers does not require the filing of a Notice of Dissolution with the North Dakota Secretary of State (SOS).