16-6a-1401. Dissolution by
incorporators or directors if no members.
(1) If a nonprofit corporation has no members, the following
may authorize the dissolution of the nonprofit corporation:
(a) a majority of its directors; or
(b) if it has no directors, a majority of its
incorporators.
(2) The directors or incorporators in approving dissolution
shall adopt a plan of dissolution indicating to whom the assets owned or held
by the nonprofit corporation will be distributed after all creditors have been
paid.
Enacted by Chapter 300, 2000 General Session