Before a corporation may begin termination, the shareholders must either vote for dissolution or sign a consent to dissolve. If they vote to dissolve, the corporation must file a Certification of Election to Wind Up and Dissolve with the state of California. Next, the winding up process begins.
Sometimes, the people who run a corporation decide to end the business. However, they cannot simply walk away. There are legal obligations involved in dissolving a business that is registered with the state. In most cases, when a corporation ends, the shareholders must first dissolve and wind up the business.
The Law Offices of Steven E. Springer works with you to achieve your goals, the firm and its attorneys help owners and managers control transactions, differentiate between good and dangerous transactions and work towards maximizing the profitability of a transaction.