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Dissolving Presidents Co: A Simple Corporate Dissolution

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Presidents Co. is a Kansas corporation with 500 shares of common stock held by 50 shareholders. Theodore, Franklin, Alexander and John are the board members. To dissolve Presidents Co., the board of directors would need to adopt a resolution to dissolve the corporation and distribute any remaining assets to the shareholders after paying off debts and liabilities.

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Please answer the below hypothetical. Your answer should be about a paragraph in length. HYPO Presidents Co., is a Kansas corporation (for profit). There are 500 shares in the corporation. There are 50 shareholders holding those 500 shares (common stock). Theodore, Franklin, Alexander and John are the board members. Review your book regarding corporate dissolution. How would you go about dissolving Presidents Co.? The answer should be fairly simple, I am just looking for a way to dissolve the company.

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  • 1. Please answer the below hypothetical. Your answer should be about a paragraph in length. HYPO Presidents Co., is a Kansas corporation (for profit). There are 500 shares in the corporation. There are 50 shareholders holding those 500 shares (common stock). Theodore, Franklin, Alexander and John are the board members. Review your book regarding corporate dissolution. How would you go about dissolving Presidents Co.? The answer should be fairly simple, I am just looking for a way to dissolve the company.