The dissolution of a corporation that has not issued stock may be approved by the incorpora- tors or by the board of directors, if one was named in the articles of incorporation.

Question

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The dissolution of a corporation that has not issued stock can indeed be approved by the incorporators or by the board of directors if one was named in the articles of incorporation, as the corporation has not yet created shareholder relationships that would necessitate shareholder approval for dissolution.

The Dissolution of a Corporation That Has Not Issued Stock