N.Y.
Not-for-Profit Corporation Law Section 1109
Judgment or final order of dissolution
(a)
In an action or special proceeding under this article if, in the court’s discretion, it shall appear that the corporation should be dissolved, it shall make a judgment or final order dissolving the corporation.(b)
In making its decision, the court shall take into consideration the following criteria:(1)
In an action brought by the attorney-general, the interest of the public is of paramount importance.(2)
In a special proceeding brought by directors or members, the benefit to the members of a dissolution is of paramount importance.(c)
If the judgment or final order shall provide for a dissolution of the corporation, the court may, in its discretion, provide therein for the distribution of the property of the corporation to those entitled thereto according to their respective rights. Any property of the corporation described in subparagraph one of paragraph (c) of section 1002-a (Carrying out the plan of dissolution and distribution of assets) shall be distributed in accordance with that section.(d)
The clerk of the court or such other person as the court may direct shall transmit certified copies of the judgment or final order of dissolution to the department of state and to the clerk of the county in which the office of the corporation was located at the date of the judgment or order. Upon filing by the department of state, the corporation shall be dissolved.(e)
The corporation shall promptly thereafter transmit a certified copy of the judgment or final order to the clerk of each other county in which its certificate of incorporation was filed.
Source:
Section 1109 — Judgment or final order of dissolution, https://www.nysenate.gov/legislation/laws/NPC/1109 (updated Sep. 22, 2014; accessed Dec. 21, 2024).
