The Company has been informed that the corporate owner was dissolved. The Company requires satisfactory recordable evidence of the names of the stockholders, a satisfactory deed from the stockholders individually and on behalf of the corporation, and satisfactory evidence that there are no outstanding debts or taxes of the corporation. At that time, the Company may make additional requirements or exceptions.
Comment: Sometimes a corporation is voluntarily
dissolved. If so, Articles of Dissolution typically will reflect the intended
successors in ownership. In the absence of a deed pursuant to the dissolution,
also require joinder of the shareholders. Sometimes, the charter is forfeited
involuntarily and you must then also be concerned with outstanding taxes,
creditors of the corporation, and proof of stockholders. If there were
outstanding creditors of the corporation, you must receive satisfactory evidence
that they are paid, or you must except to the rights of creditors of the
corporation unless their rights are barred by state limitations.