State Codes and Statutes
Statutes > Virginia > Title-13-1 > Chapter-10 > 13-1-911§ 13.1-911. Decree of dissolution.
A. If after a hearing the court determines that one or more grounds forjudicial dissolution described in § 13.1-909 exist, it may enter a decreedirecting that the corporation shall be dissolved. The clerk of the courtshall deliver a certified copy of the decree to the Commission, which shallenter an order of involuntary dissolution.
B. After the order of involuntary dissolution has been entered, the courtshall direct the winding up and liquidation of the corporation's business andaffairs in accordance with §§ 13.1-906 and 13.1-907 and the notification ofclaimants in accordance with §§ 13.1-908, 13.1-908.1, and 13.1-908.2. Whenall of the assets of the corporation have been distributed, the court shallso advise the Commission, which shall enter an order of termination ofcorporate existence.
(Code 1950, §§ 13.1-262, 13.1-263; 1956, c. 428; 1985, c. 522; 2007, c. 925.)
