Home Join Now Learn More Sign in
Home | Admin | Sign Out 
Find a Form 

Access thousands of free legal and business forms contributed by leading lawyers and other professionals

Search by key words (e.g., "Sales Contract")
Advanced search

 
Promote Your Business  
  • Contribute a legal or business form and network with thousands of potential clients, businesses, and professionals

    Upload a Form Add Your Executive Profile
Promote Your Business 
  • Contribute a legal or business form and network with thousands of potential clients, businesses, and professionals

    Upload a Form Add Your Executive Profile
Promote your business  
  • Contribute a legal or business form and network with thousands of potential clients, businesses, and professionals

    Upload a Form Add Your Executive Profile
Add your free profile  
  • Contribute a legal or business form and network with thousands of potential clients, businesses, and professionals

    Upload a Form Add Your Executive Profile
 
Connect

Terms Of Use

Submissions to this site, including any legal or business forms, posts, responses to questions or other communications by contributors are not intended as and should not be construed as legal advice. You are strongly encouraged to consult competent legal council before engaging in any action based upon content contained on this site.

These downloadable forms are only for personal use. Retransmission, redistribution, or any other commercial use is prohibited. This includes reposting forms from this site to another site offering free legal or other document forms for download.

Please note that the donator may have included different usage terms regarding this form, and you agree to abide by these terms. It is highly recommended that you have a licensed attorney review any legal documents for which you are searching in order to make sure that your needs are being properly and completely satisfied.

Your use of this site constitutes your acceptance of our terms of use and your agreement to hold this site, its officers, employees and any contributors to this site harmless for any damage you might incur from your use of any submissions contained on this site. If you do not agree to the above terms, please do not proceed.

These forms are provided to assist business owners and others in understanding important points to consider in different transactions. They are offered with the understanding that no legal advice, accounting, or other professional service is being offered by these documents or on this website. Laws vary in the different states. Agreements acceptable in one state may not be enforced the same way under the laws of another state. Also, agreements should relate specifically to the particular facts of each situation. Therefore, it is important to consult legal counsel whenever utilizing these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com is not engaged in recommending or referring members on the site or making claims about the competence, character or qualifications of its participating members.
Close

Thank you for using
Yourfreelegalforms.com


Your online source for 100% free legal and business forms.
Have a form to contribute?
Contribute a legal or business form, checklist or article and have your profile displayed on the same page as the form for free, powerfull, targeted marketing to those searching for legal forms and advice.

Advertise your business to thousands for free – Contribute a form
Form #1550

Resolution of directors as to distribution of assets on dissolution.

Average user rating:  
Not Yet Rated
Rate it

Resolution of directors as to distribution of assets on dissolution.


this form has not been reviewed by a lawyer
Need this form customized? Download This Form Printer Friendly Version

Resolution of directors as to distribution of assets on dissolution.

This corporation has sold to _________ Company all of its property and assets except cash on hand and its claim or claims against the United States Government for a refund of taxes, and this corporation has agreed to liquidate its affairs and to dissolve.

It is estimated that the sum paid by _________ Company for the properties and assets of the corporation, together with cash on hand and other assets, will be sufficient to pay all holders of the nonpar value common stock of the corporation, not less than $_____ per share.

The board of directors of the corporation has called a meeting of its stockholders, to be held between the hours of _________ o'clock and _________ o'clock, on _________, the _________ day of _________[year], to convene at _________ o'clock, to consider the question of the final dissolution of the corporation and the distribution of its cash and the proceeds derived from its property and assets, after the payment of its debts, to its stockholders.

The corporation now has on hand an earned surplus and undivided profits sufficient to distribute to each shareholder of nonpar value common stock the sum of _________.

The board of directors in their judgment deem it advisable and most for the benefit of the corporation that the distribution should be made as a part payment of the total sum to be paid to the holders of stock by reason of the sale of the properties and assets of the corporation to _________ Company and the dissolution of the corporation.

Therefore the corporation will distribute to the holders of its nonpar value common stock from its earned surplus $_____ per share for each and every share, upon condition, that the distribution shall constitute a part of the payment to be made to the holders of the nonpar value common stock of the corporation by reason of the sale of its properties and assets to _________ Company and the dissolution of the corporation.

The president and secretary of the corporation will prepare and mail to each and every holder of the nonpar value common stock of the corporation, at his or her last known place of residence, a written or printed notice, advising them of the distribution to be made to the holders of stock, and requesting the stockholders to forward their stock to the corporation or to some bank or agent in the City of _________, _________, in order that proper endorsement may be made when payment is made.

All payments made to the stockholders by virtue of this resolution shall be a part of the total amount to be paid to the stockholders by reason of the sale of the properties and assets of the corporation, from which, together with cash on hand and the proceeds from other assets of the corporation, it is estimated that the holders of nonpar value common stock will ultimately receive not less than $_____ per share for each and every share of stock, and that no payment shall be made to any person or persons except stockholders of record at the time or times payments are actually made, and, unless and until the certificate or certificates evidencing stock ownership shall be presented to the corporation, in order that proper endorsement of the payment or payments may be made.

The president and secretary of the corporation are authorized and directed to pay, or cause to be paid, to the holders of the nonpar value common stock of the corporation, from its earned surplus, $_____ per share, by reason of the distribution ordered, when and not until the certificate or certificates evidencing the stock shall be presented to the corporation and endorsed as follows:

There has been paid upon this certificate $_____ for each and every share of nonpar value common stock of _________ Company evidenced by the certificate, pursuant to a distribution ordered by the board of directors of corporation on the _________ day of _________[year]. The distribution is a part of the total sum to be paid to the holders of common stock by reason of the sale of the corporation's properties and assets to _________ Company and the final dissolution of the corporation.



 
Contributed by
AIG Legal
 
Total Forms Contributed 75
 

See All AIG Legal's Forms
 

Related Forms

Software Development and Distribution Agreement
BOARD OF DIRECTORS’ RESOLUTION TO SET OFFICERS BONUS
BOARD OF DIRECTORS' RESOLUTION REMOVING AN OFFICER OR DIRECTOR
BOARD OF DIRECTORS' RESOLUTION ON PRESIDENT'S AUTHORITY TO NEGOTIATE CONTRACT
BOARD OF DIRECTORS' RESOLUTION FOR SALE AND LEASEBACK OF REAL ESTATE

Terms Of Use

Submissions to this site, including any legal or business forms, posts, responses to questions or other communications by contributors are not intended as and should not be construed as legal advice. You are strongly encouraged to consult competent legal council before engaging in any action based upon content contained on this site.

These downloadable forms are only for personal use. Retransmission, redistribution, or any other commercial use is prohibited. This includes reposting forms from this site to another site offering free legal or other document forms for download.

Please note that the donator may have included different usage terms regarding this form, and you agree to abide by these terms. It is highly recommended that you have a licensed attorney review any legal documents for which you are searching in order to make sure that your needs are being properly and completely satisfied.

Your use of this site constitutes your acceptance of our terms of use and your agreement to hold this site, its officers, employees and any contributors to this site harmless for any damage you might incur from your use of any submissions contained on this site. If you do not agree to the above terms, please do not proceed.

These forms are provided to assist business owners and others in understanding important points to consider in different transactions. They are offered with the understanding that no legal advice, accounting, or other professional service is being offered by these documents or on this website. Laws vary in the different states. Agreements acceptable in one state may not be enforced the same way under the laws of another state. Also, agreements should relate specifically to the particular facts of each situation. Therefore, it is important to consult legal counsel whenever utilizing these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com is not engaged in recommending or referring members on the site or making claims about the competence, character or qualifications of its participating members.
Close

Thank you for using
Yourfreelegalforms.com


Your online source for 100% free legal and business forms.
Have a form to contribute?
Contribute a legal or business form, checklist or article and have your profile displayed on the same page as the form for free, powerfull, targeted marketing to those searching for legal forms and advice.



Was this form helpful? Yes No
Need a different form? Yes No


Need a different form? Need a custom form or service?

post a request to our community.


Comments




Keywords: Resolution, directors, distribution of assets , dissolution.

close