Court-ordered corporate termination . Court must be in the state where the company incorporated. Request for dissolution typically from the state attorney general (AG )or shareholders (SH) if the company is publically traded. If a company fails to comply with state tax laws and regulations, like administration or statutory regulations, the AG can petition for dissolution. Abuse of power , fraudulent activities, and other illegal acts are cause for a dissolution petition by shareholders. Even a deadlock situation between the directors when shareholders cannot break the deadlock is reason for a shareholder to file a petition for dissolution.
Black’s Law Online Dictionary
