voluntary dissolution

Definition of "voluntary dissolution"
  1. A corporation's decision to end its existence, initiated by the board of directors and approved by a specific share of shareholders
How to use "voluntary dissolution" in a sentence
  1. The board of directors has decided to proceed with the voluntary dissolution of the company, pending shareholder approval.
  2. Due to economic downturn, the business owners voted in favor of voluntary dissolution.
  3. The process of voluntary dissolution requires a majority vote from the company's shareholders.

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