Generally, a corporation in Florida that wishes to dissolve must file with the Division of Corporations (DOC) articles of dissolution signed by an authorized officer of the corporation. The articles of dissolution must include 3 basic pieces of information: the name of the corporation, the date the corporation authorized the dissolution, and (if the dissolution was specifically approved by the shareholders) a separate statement that the proposal to dissolve was duly approved by the shareholders in the manner required by Article 14 and by the articles of incorporation. [1]
However, if the corporation has not yet issued any shares, then its board of directors (or if it has no board of directors, a majority of the incorporators) must still file articles of dissolution with the DOC, but they must contain additional information. Specifically, these articles must state all of the following:
- The name of the corporation.
- The date of incorporation.
- That none of the corporation’s shares have been issued.
- That the corporation has paid all its debts.
- That the corporation’s net assets remaining, if any, after winding up have been distributed.
- That a majority of the incorporators or directors authorized the dissolution.[2]
Actions By Directors or Shareholders to Dissolve
At any time, a corporation’s board of directors may propose dissolution for submission to the shareholders. For the shareholders to adopt the director’s proposal to dissolve, a majority vote by shareholders entitled to vote is required, UNLESS the corporation’s articles of incorporation (or the board of directors, if required as a condition for approval) require a greater vote,
Per above, if a corporation has not formally issued any shares, then a majority of its board of directors (or incorporators there is no board), can agree to dissolve the corporation by filing articles of dissolution with the DOC.
Alternatively, without action of the board of directors, the corporation’s shareholders are permitted to act independently to dissolve a corporation by either majority vote, or written consent. [3]
Filing Requirements
The articles of dissolution must be filed with the DOC. The corporation must also pay a filing fee, which, as of the date of this article, is $35. Rushed or expedited filing services are not available.
Under § 607.1407, Fla. Stat., a dissolved corporation may file a Notice of Corporate Dissolution to resolve payment of unknown claims. A fee (currently $35) is required to file this notice.
[1] § 607.1403, Fla. Stat.
[2] § 607.1401, Fla. Stat.
[3] § 607.0702(5-6), Fla. Stat.