14-3-1406. Effect of notice of intent to dissolve.

A corporation that has filed a notice of intent to dissolve continues its corporate existence but may not carry on any business except that appropriate to wind up and liquidate its business and affairs, including: (1) Collecting its assets; (2) Disposing of its properties that will not be distributed in kind in accordance with the plan of dissolution; (3) Discharging or making provision for discharging its liabilities; (4) Distributing its remaining property in accordance with the plan of dissolution; and (5) Doing every other act necessary to wind up and liquidate its business and affairs.