Oregon Sample Letter for Official Notice of Intent to Administratively Dissolve or Revoke
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How to fill out Sample Letter For Official Notice Of Intent To Administratively Dissolve Or Revoke?
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Admin dissolved or administrative dissolution refers to the act of a governing body removing the legal rights, abilities, assets and authority of a corporate entity, either for violation of certain laws or a similar form of transgression performed by the company and its constituent members.
After dissolution, a corporation is generally expected to pay all its existing debts and then liquidate its remaining assets to its shareholders. This sometimes becomes difficult, however, where there are unknown claims that may exist against the corporation.
Administrative dissolution is the taking away of the rights, powers, and authority of a domestic corporation, LLC, or other statutory business entity by the state administrator overseeing business entities, due to the entity's failure to comply with certain obligations of the business entity statute.
People who continue to operate a business that has been dissolved, are taking a serious risk. That's because once the company dissolves, the corporate protections no longer exist. That means that someone who operates the dissolved business, can be sued personally for anything the (dissolved) company does.
