There are a number of actions you must do in order to properly close your Delaware corporation if the time has come. You will be guided through the procedure, which includes submitting a certificate of cancellation and changing your registered agent, in this post.
Hold a board meeting as the first step
Holding a board meeting is the first step in dissolving your Delaware business. You must adopt a resolution to dissolve the corporation at this meeting. The date of dissolution and the names and signatures of the board members who voted in favor of dissolution should be included in the resolution.
The Delaware Secretary of State must receive a certificate of cancellation once the resolution to dissolve the corporation has been approved. This document formally ends the existence of your corporation in Delaware. When filing, you must include the following information:
– The date of dissolution
– The signature of a corporate officer
Step 3: Inform Debtors, Creditors, and Other Parties You must inform all creditors and other persons with whom your Delaware corporation has conducted business before you can formally close it. This comprises clients, partners, and suppliers. Before you may proceed with shutting the corporation, you must clear all unpaid debts and obligations.
Step 4: Discontinue Service with Your Registered Agent Last but not least, you must remove your registered agent. Before you can fire them, you’ll need to designate a registered agent in Delaware if you don’t already have one. You can file a document with the Delaware Secretary of State to replace your former registered agent once you’ve chosen a new one.
It may seem difficult to close your Delaware corporation, but if you follow these instructions, you can make sure that you’re doing it correctly and lawfully. Remember that extra conditions or procedures can be necessary based on the particulars of your corporation’s position, so it’s always a good idea to speak with a lawyer or other qualified advisor.