Plan of Complete Liquidation (DE Corporation)


Summary

This Plan of Complete Liquidation form is adopted by the board of directors and/or stockholders of a corporation formed under the laws of the State of Delaware for the purpose of effecting the complete liquidation and dissolution of the corporation in accordance with Section 275 of the Delaware General Corporation Law (DGCL). This form includes practical guidance and drafting notes.This Plan gives the directors of the corporation the authority to determine and undertake the steps necessary to wind down the company and to follow the timing that is appropriate and desirable for the company and in the best interest of its stockholders. To effect complete liquidation, this plan should be approved both by the directors and stockholders of the corporation, although the stockholders may, by unanimous written consent, authorize the dissolution of the corporation without action of the directors. 8 Del. C. § 275. For additional guidance, see Dissolution (DE Corporation). See also Resolutions of ...