§ 7-6-53 - Revocation of voluntary dissolution proceedings. - Rhode Island Statutes

SECTION 7-6-53

   § 7-6-53  Revocation of voluntarydissolution proceedings. – (a) A corporation may, at any time prior to the issuance of a certificate ofdissolution by the secretary of state, revoke the action previously taken todissolve the corporation, in the following manner:

   (1) If there are members entitled to vote on it, the board ofdirectors shall adopt a resolution recommending that the voluntary dissolutionproceedings be revoked, and directing that the question of the revocation besubmitted to a vote at a meeting of members entitled to vote on it, which maybe either an annual or a special meeting. Written notice stating that thepurpose, or one of the purposes, of the meeting is to consider the advisabilityof revoking the voluntary dissolution proceedings, shall be given to eachmember entitled to vote at the meeting, within the time and in the mannerprovided in this chapter for the giving of notice of meetings of members. Aresolution to revoke the voluntary dissolution proceedings shall be adoptedupon receiving at least a majority of the votes which members present at themeeting or represented by proxy are entitled to cast.

   (2) If there are no members, or no members entitled to voteon it, a resolution to revoke the voluntary dissolution proceedings shall beadopted at a meeting of the board of directors upon receiving the vote of amajority of the directors in office.

   (b) Upon the adoption of the resolution by the members, or bythe board of directors where there are no members or no members entitled tovote on it, the corporation may at that time again conduct its affairs.