What does "dissolution of a corporation" entail under the Revised Corporation Code?

The dissolution of a corporation under the Revised Corporation Code refers to the legal process of terminating the existence of a corporation. This process can be initiated by the corporation itself, often due to decisions made by the shareholders or board of directors, or it can occur as a result of a legal or regulatory requirement.

When a corporation is dissolved, it means that it ceases to be a legal entity. This involves settling any outstanding debts, distributing any remaining assets to shareholders, and filing the requisite documents with the appropriate regulatory bodies to formally conclude the corporation's existence. This process ensures that all financial and legal obligations are addressed before the corporation is officially dissolved.

It's essential to understand that dissolution is distinctly different from other corporate activities, such as mergers or strategies focused on shareholder value. The nature of dissolution is that it signifies the end of the corporation, rather than a strategy for growth or operational change.