Section 10-4-7 Dissolution. - Alabama Statutes

Section 10-4-7

Dissolution.

Any corporation sole under this article may be dissolved by the bishop who constitutes said corporation filing with the Secretary of State his application therefor, which shall be subscribed, sworn to and certified as in the case of an application for incorporation. Upon the filing of such certificate, the corporation shall cease, and all its property rights and liabilities shall pass to such bishop, but no bishop shall be responsible for liabilities of a dissolved corporation in any greater sum than the value of property of such corporation which may come into his possession upon its dissolution. The Secretary of State shall record the application for dissolution and shall make and issue to the bishop, under the seal of the state, his certificate that the corporation is dissolved and shall record this certificate with the application for dissolution.

(Acts 1911, No. 429, p. 452; Code 1923, §7118; Code 1940, T. 10, §121.)