Under what circumstances can a corporation be dissolved according to the Revised Corporation Code?

A corporation can be dissolved under the Revised Corporation Code through various circumstances, which include voluntary, involuntary, or administrative dissolution. This comprehensive approach recognizes that corporations may need to cease operations for a multitude of reasons.

Voluntary dissolution occurs when shareholders or members decide to dissolve the corporation, often in accordance with specific procedures outlined in the corporation's bylaws or by a majority vote. This could happen when the corporation has fulfilled its purpose, or if it is no longer profitable or desired by its owners.

Involuntary dissolution can occur due to legal actions taken against the corporation, such as a court order, often triggered by failure to comply with laws or regulations. This route protects the interests of creditors and stakeholders who may be adversely affected by the corporation’s activities or mismanagement.

Administrative dissolution happens when a corporation fails to maintain its good standing by not filing required documents or by failing to pay necessary fees. This serves as a mechanism for regulatory bodies to ensure that corporations adhere to legal standards and make necessary disclosures.

All these forms of dissolution reflect the adaptability of the corporate structure to both the will of its owners and the legal framework regulating business operations. Hence, the inclusion of multiple methods highlights the complexity of corporate governance and the necessity for flexibility within the corporate landscape.