voluntary dissolution

voluntary dissolution
The dissolution of a corporation upon a vote of the stockholders, subject to statutory conditions respecting the percentage of the stock voted in favor of dissolution, or at the instance of the directors with the consent of a certain proportion of the stockholders. 19 Am J2d Corp §§ 1596 et seq. See voluntary liquidation.

Ballentine's law dictionary. . 1998.

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  • voluntary dissolution — see dissolution Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • dissolution — dis·so·lu·tion /ˌdi sə lü shən/ n: the act or process of ending: as a: the termination of an organized body (as a court) b: the ending of a partnership relationship caused by the withdrawal of one of the partners from the relationship c: the… …   Law dictionary

  • voluntary liquidation — The closing of a solvent bank and the liquidation of the business pursuant to the vote of the stockholders holding a certain percentage (usually 2/3) of the shares of the bank. 10 Am J2d Banks §828. See voluntary dissolution …   Ballentine's law dictionary

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  • dissolution — Act or process of dissolving; termination; winding up. In this sense it is frequently used in the phrase dissolution of a partnership. See partnership, below, this topic. Contracts. The dissolution of a contract is the cancellation or abrogation… …   Black's law dictionary

  • dissolution — Act or process of dissolving; termination; winding up. In this sense it is frequently used in the phrase dissolution of a partnership. See partnership, below, this topic. Contracts. The dissolution of a contract is the cancellation or abrogation… …   Black's law dictionary

  • voluntary settlement — A dissolution and winding up of the affairs of a partnership, effected by the partners without court action. See compromise; settlement; voluntary payment …   Ballentine's law dictionary

  • dissolution of corporation —    The termination of a corporation. This can be voluntary, by resolution, payment of debts, distribution of assets, and filing of the appropriate documents with the state authorities. It can also be involuntary, by state action, for failure to… …   Business law dictionary

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