Nevada § 78.580 - Procedure for dissolution after beginning of business

§ 78.580. Procedure for dissolution after beginning of business

1. If the board of directors of any corporation organized under this chapter decides

that the corporation should be dissolved, the board may adopt a resolution to that

effect. 2. If the corporation has issued no stock, only the directors need to approve the

dissolution. 3. If the corporation has issued stock, the directors must recommend the dissolution

to the stockholders. The board of directors may condition its submission of the proposal for dissolution

on any lawful basis. Unless the dissolution is to be approved by written consent pursuant to NRS 78.320 , the corporation shall notify each stockholder, whether or not entitled to vote on

dissolution, of the proposed dissolution and the stockholders entitled to vote must

approve the dissolution. If the dissolution is approved by written consent pursuant to subsection 2 of NRS 78.320 , the corporation shall notify each stockholder whose written consent was not solicited

of the dissolution, in writing, not later than 10 days after the effective date of

the dissolution. 4. If the dissolution is approved by the directors or both the directors and stockholders,

as respectively provided in subsections 2 and 3, the corporation shall file with the

Secretary of State a certificate signed by an officer of the corporation setting forth

that the dissolution has been approved by the directors, or by the directors and the

stockholders, and a list of the names and addresses, either residence or business,

of the corporation's president, secretary and treasurer, or the equivalent thereof,

and all of its directors. 5. The dissolution takes effect at the time of the filing of the certificate of dissolution

with the Secretary of State or upon a later date and time as specified in the certificate,

which date must be not more than 90 days after the date on which the certificate is

filed. If a certificate of dissolution specifies a later effective date but does not specify

an effective time, the certificate is effective at 12:01 a.m. in the Pacific time

zone on the specified later date.