Laws of New York (Last Updated: November 21, 2014)

Section 1102. Directors' petition for judicial dissolution

Latest version.

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.

                    
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