12 U.S.C. § 623 — Voluntary liquidation
submitted 113 years ago by ch. 6 to r/title-12-BANKS-AND-BANKING · 25 words · no verdicts yet
A corporation formed under this subchapter may close through voluntary liquidation if shareholders who own two-thirds of its stock vote for it.
A corporation organized under this subchapter may voluntarily liquidate and close if shareholders owning two-thirds of its stock vote to do so.
Any corporation organized under this subchapter may go into voluntary liquidation and be closed by a vote of its shareholders owning two-thirds of its stock.
Source credit: (Dec. 23, 1913, ch. 6, § 25A (par.), formerly § 25(a), as added Dec. 24, 1919, ch. 18, 41 Stat. 378; renumbered § 25A, Pub. L. 102–242, title I, § 142(e)(2), Dec. 19, 1991, 105 Stat. 2281.)
- 1913Enacted · Act of Dec. 23, 1913, ch. 6 · 41 Stat. 378
- 1991Amended · Pub. L. 102-242 · 105 Stat. 2281
A history note hasn’t been published yet. The record shows enactment by ch. 6 on 1913-12-23.
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