Section 901.16 - Application for dissolution of a not-for-profit corporation

901.16 Application for dissolution of a not-for-profit corporation. (a) Not-for-profit corporations seeking the approval of the Life Care Community Council of a voluntary dissolution shall file information, documents and data as follows:

(1) the public need for such dissolution;

(2) the proposed disposition of the assets of the corporation;

(3) the proposed certificate of dissolution which shall in all respects conform with the applicable provisions of the Not-for-Profit Corporation Law and all other pertinent laws of the State of New York;

(4) the proposed plan of dissolution and distribution of assets which shall in all respects conform with the applicable provisions of the Not-for-Profit Corporation Law and all other pertinent laws of the State of New York;

(5) the petition proposed to be submitted to the court in support of the application for judicial approval of the proposed plan of dissolution and distribution of assets; and

(6) such additional pertinent information and documents which are deemed necessary for the council's consideration as requested.

(b) If the council approves the dissolution of the corporation, such approval shall be contingent upon the approval of the plan of dissolution and distribution of assets by a court of competent jurisdiction and the filing of a certified copy of the court order of such approval.
 

Effective Date: 
Wednesday, July 1, 1992
Doc Status: 
Complete