Both 50/50 partners now in their early 60s; in business together for 30+ yrs. Never implemented buy-sell agreement or life insurance to pay for same. No heirs desire to continue very small service business. Outside sale unlikely-company is in a niche industry and highly illiquid. Thank you.
No, things do not work that way. New York will not file a resolution and they certainly would not take any action if it was filed. A resolution is the memorialization of a decision of the Board of Directors. It is not how corporations are dissolved. There may be ways of accomplishing this, but my question is why? If there is no one running the business, NY will eventually revoke its charter for failure to pay taxes. There would be no liability to the estates when this happened.
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