Section 14-2-1401. Dissolution by incorporators or initial directors

   A majority of the incorporators or initial directors of a corporation that has not issued shares or has not commenced business may dissolve the corporation by delivering to the Secretary of State for filing articles of dissolution that set forth:

   (1) The name of the corporation;

   (2) The date of its incorporation;

   (3) Either that:

      (A) None of the corporation's shares has been issued; or

      (B) The corporation has not commenced business;

   (4) That no debt of the corporation remains unpaid;

   (5) That the net assets of the corporation remaining after winding up have been distributed to the shareholders, if shares were issued; and

   (6) That a majority of the incorporators or initial directors authorized the dissolution.

Code 1981, § 14-2-1401, enacted by Ga. L. 1988, p. 1070, § 1.