The Notice of Corporate Dissolution is used as public documentation stating the corporation has discontinued all operations and is no longer functioning. The document contains details on the company’s name, the date of dissolution, and the cause of the dissolution. The company’s legal existence is dissolved after the notice is submitted to the state, and its assets are divided to its owners or creditors.
A company no longer has the legal ability to make a claim or file a lawsuit when it is dissolved. The business’s legal representatives, such as an estate or trustee, may still pursue those claims if they were still active at the time of dissolution and the corporation had active legal claims or lawsuits. Another common query is, “Can a dissolved company still be sued?”
Can a dormant company launch a lawsuit?
Depending on the situation, an inactive corporation could be allowed to file a lawsuit. Even though the corporation may not have been formally dissolved, it may still be able to make a claim or launch a lawsuit. However, the corporation cannot file a lawsuit if it has been dissolved.
Members of a limited liability corporation (LLC) are not personally responsible for the debts and liabilities of the company in Florida. The members could be held liable for paying the debts if they personally guaranteed the company’s obligations. In addition, if the members have participated in dishonest or unlawful conduct, they may be held personally accountable for any harm brought on by such behaviors.
In conclusion, any corporation that is discontinuing its business operations in Florida must take the crucial step of submitting a Notice of Corporate Dissolution. The company’s legal existence ends after the notification is sent, and it is no longer eligible to pursue any legal claims. There are few instances where an LLC member may be held personally accountable for the obligations of the business.