Legislation
SECTION 1106
Order to show cause; issuance; publication, service, filing
Business Corporation (BSC) CHAPTER 4, ARTICLE 11
§ 1106. Order to show cause; issuance; publication, service, filing.
(a) Upon the presentation of such a petition, the court shall make an
order requiring the corporation and all persons interested in the
corporation to show cause before it, or before a referee designated in
the order, at a time and place therein specified, not less than four
weeks after the granting of the order, why the corporation should not be
dissolved. In connection therewith, the court may order the corporation,
its officers and directors, to furnish the court with a schedule of all
information, known or ascertainable with due diligence by them, deemed
pertinent by the court, including a statement of the corporate assets
and liabilities, and the name and address of each shareholder and of
each creditor and claimant, including any with unliquidated or
contingent claims and any with whom the corporation has unfulfilled
contracts.
(b) A copy of the order to show cause shall be published as prescribed
therein, at least once in each of the three weeks before the time
appointed for the hearing thereon, in one or more newspapers, specified
in the order, of general circulation in the county in which the office
of the corporation is located at the date of the order.
(c) A copy of the order to show cause shall be served upon the state
tax commission and the corporation and upon each person named in the
petition, or in any schedule provided for in paragraph (a), as a
shareholder, creditor or claimant, except upon a person whose address is
stated to be unknown, and cannot with due diligence be ascertained by
the corporation. The service shall be made personally, at least ten days
before the time appointed for the hearing, or by mailing a copy of the
order, postage prepaid, at least twenty days before the time so
appointed, addressed to the person to be served at his last known
address.
(d) A copy of the order to show cause and the petition shall be filed,
within ten days after the order is entered, with the clerk of the county
where the office of the corporation is located at the date of the order.
A copy of each schedule furnished to the court under this section shall,
within ten days thereafter, be filed with such clerk.
(e) Publication, service and filing provided for in this section shall
be effected by the corporation or such other persons as the court may
order.
(a) Upon the presentation of such a petition, the court shall make an
order requiring the corporation and all persons interested in the
corporation to show cause before it, or before a referee designated in
the order, at a time and place therein specified, not less than four
weeks after the granting of the order, why the corporation should not be
dissolved. In connection therewith, the court may order the corporation,
its officers and directors, to furnish the court with a schedule of all
information, known or ascertainable with due diligence by them, deemed
pertinent by the court, including a statement of the corporate assets
and liabilities, and the name and address of each shareholder and of
each creditor and claimant, including any with unliquidated or
contingent claims and any with whom the corporation has unfulfilled
contracts.
(b) A copy of the order to show cause shall be published as prescribed
therein, at least once in each of the three weeks before the time
appointed for the hearing thereon, in one or more newspapers, specified
in the order, of general circulation in the county in which the office
of the corporation is located at the date of the order.
(c) A copy of the order to show cause shall be served upon the state
tax commission and the corporation and upon each person named in the
petition, or in any schedule provided for in paragraph (a), as a
shareholder, creditor or claimant, except upon a person whose address is
stated to be unknown, and cannot with due diligence be ascertained by
the corporation. The service shall be made personally, at least ten days
before the time appointed for the hearing, or by mailing a copy of the
order, postage prepaid, at least twenty days before the time so
appointed, addressed to the person to be served at his last known
address.
(d) A copy of the order to show cause and the petition shall be filed,
within ten days after the order is entered, with the clerk of the county
where the office of the corporation is located at the date of the order.
A copy of each schedule furnished to the court under this section shall,
within ten days thereafter, be filed with such clerk.
(e) Publication, service and filing provided for in this section shall
be effected by the corporation or such other persons as the court may
order.