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Dissolution
Dissolution
Is your castle protected?
"Attorney Chris Hansen practices preventative law and can show you how to protect your valuable assets.  Please see Our Philosophy for more details."
Areas of Practice
Business
Estate Planning
Law Offices of Chris Hansen, APC
7840 El Cajon Blvd, La Mesa, CA 91942
619-469-2667 or chris@inclaw.com
7840 El Cajon Blvd, La Mesa, CA 91942
La Mesa probate attorney, La Mesa corporate attorney, La Mesa business attorney, La Mesa trust attorney.
The decision to dissolve a corporation, particularly one with an ongoing business, has serious consequences for its shareholders and all others involved. The corporation's liquidation value may be far less than its value as a going concern. Shareholders should be alerted to considerations that will affect the amounts they may receive from the corporation in a dissolution, as well as any income tax liability that may result, and the possible need to set aside corporate assets to secure contingent liabilities.

Assuming that a decision to dissolve has been made, a California corporation's existence may be terminated by:

        Voluntary dissolution without court supervision;

        Court-supervised voluntary proceedings;

        Involuntary proceedings instituted by the directors or shareholders of the corporation, subject to court supervision; or

        Involuntary proceedings instituted by the state.

A California corporation's existence may also be terminated by merger or consolidation into another corporation, expiration of its term of existence (if it does not have unlimited life), or forfeiture of its corporate existence.