Procedures for Dissolution. The Managing Board or its representatives shall liquidate the assets of the Company, apply and distribute the Liquidation Proceeds as contemplated by this Agreement and cause the cancellation of the Certificate. As soon as practicable after the dissolution of the Company, a full account of the assets and liabilities of the Company shall be taken, and a statement shall be prepared by the independent accountants then acting for the Company setting forth the assets and liabilities of the Company. A copy of such statement shall be furnished to each Member within ninety (90) days after such dissolution. Thereafter, the assets of the Company shall be liquidated as promptly as practicable and the proceeds thereof shall be distributed as set forth in Section 9.1 hereof.
Procedures for Dissolution. On commencement of dissolution proceedings (either by election of all Shareholders or otherwise), the Corporation will cease to carry on business except as necessary to wind up its business and distribute its assets. The President, or any Shareholder or Shareholders appointed by the President, will perform the following acts, as necessary, to wind up the affairs of the Corporation: • Continue the business as necessary for the winding up of the affairs of the Corporation; • Carry out contracts and collect, pay, compromise, and settle debts and claims for or against the Corporation (including participating in litigation, whether as plaintiff or defendant relating to the same); • Sell at public or private sale, exchange, convey, or otherwise dispose of all or any part of the assets of the Corporation for cash in an amount considered reasonable by the President, or his or her appointee(s); • Make contracts and take any steps in the name of the Corporation that are necessary or convenient in order to wind up the affairs of the Corporation; and/or • Employ agents and attorneys to liquidate and wind up the affairs of the Corporation.
Procedures for Dissolution. A. A plan of dissolution of any special district shall be made by the County Judge in writing and shall be submitted to the Fiscal Court for approval for any district which was created by the County (KRS 67.715).
B. The County Judge shall notify the Chairperson of the special district which is the subject of the plan of dissolution. The notice shall be in writing and shall be provided at least five (5) days before the plan of dissolution is submitted to the Fiscal Court.
C. All plans of dissolution shall contain: A list of the reasons for dissolving the special district;
Procedures for Dissolution. On commencement of dissolution proceedings (either by election of all Shareholders or otherwise), the Corporation will cease to carry on business except as necessary to wind up its business and distribute its assets. The President, or any Shareholder or Shareholders appointed by the President, will perform the following acts, as necessary, to wind up the affairs of the Corporation:
(a) Continue the business as necessary for the winding up of the affairs of the Corporation;
(b) Carry out contracts and collect, pay, compromise, and settle debts and claims for or against the Corporation (including participating in litigation, whether as plaintiff or defendant relating to the same);
(c) Sell at public or private sale, exchange, convey, or otherwise dispose of all or any part of the assets of the Corporation for cash in an amount considered reasonable by the President, or his or her appointee(s);
(d) Make contracts and take any steps in the name of the Corporation that are necessary or convenient in order to wind up the affairs of the Corporation; and/or
(e) Employ agents and attorneys to liquidate and wind up the affairs of the Corporation.
