Section 14-3-1406. Effect of notice of intent to dissolve

   A corporation that has filed a notice of intent to dissolve continues its corporate existence but may not carry on any business except that appropriate to wind up and liquidate its business and affairs, including:

   (1) Collecting its assets;

   (2) Disposing of its properties that will not be distributed in kind in accordance with the plan of dissolution;

   (3) Discharging or making provision for discharging its liabilities;

   (4) Distributing its remaining property among its members in accordance with the plan of dissolution; and

   (5) Doing every other act necessary to wind up and liquidate its business and affairs.

Code 1981, § 14-3-1406, enacted by Ga. L. 1991, p. 465, § 1.