16.03.590 Dissolution by Incorporators or Directors and Third Persons

(a) A majority of the incorporators or directors of a corporation that has no members may, subject to any approval required by the articles or bylaws, dissolve the corporation by delivering to the Tribal Secretary articles of dissolution in accordance with the provisions of Chapter 16.01, Subchapter 7.

(b) The corporation shall give notice of any meeting at which dissolution will be approved in accordance with its articles and bylaws. The notice must also state that the purpose, or one of the purposes, of the meeting is to consider dissolution of the corporation.

(c) The incorporators or directors in approving dissolution shall adopt a plan of dissolution indicating to whom the assets owned or held by the corporation will be distributed after all creditors have been paid.