Statute · New York Business Corporation Law
N.Y. Bus. Corp. Law § 1102 — Directors' petition for judicial dissolution
N.Y. Bus. Corp. Law § 1102
- Type
- Statute
- Source
- New York Business Corporation Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 1102. Directors' petition for judicial dissolution.
Citator
N.Y. Bus. Corp. Law § 1102 — Directors' petition for judicial dissolution is in force in the current edition of the Code, and nothing recorded condemns it.
§ 1102. Directors' petition for judicial dissolution.
If a majority of the board adopts a resolution that finds that the assets of a corporation are not sufficient to discharge its liabilities or that a dissolution will be beneficial to the shareholders, it may present a petition for its dissolution.