564-F:20-2003 Dissolution by Board of Directors. –
(a) Except as otherwise provided in the governing documents, the board of directors may dissolve a foundation by filing with the secretary of state a certificate of dissolution.
(b) The certificate of dissolution shall set forth:
(1) The foundation’s name;
(2) The date on which the dissolution was authorized;
(3) A statement that the board of directors authorized the dissolution; and
(4) A statement that a copy of the certificate of dissolution has been sent to the department of revenue.
(c) A foundation’s dissolution is effective upon filing the certificate of dissolution.
Source. 2017, 257:47, eff. Oct. 1, 2017.