MHHS · Business Corporations Act
Part 17 — Liquidation and Dissolution
224 Final accounts and discharge of liquidator
property of the corporation and shall pay or make adequate
provision for all claims against the corporation.
(2) Within one year after the liquidator's appointment, and after
paying or making adequate provision for all claims against the
corporation, the liquidator shall apply to the Court
(a) for approval of the liquidator's final accounts and for an
order permitting the liquidator to distribute in money or in
kind the remaining property of the corporation to its
shareholders according to their respective rights, or
(b) for an extension of time, s etting out the reasons for the
extension.
RSA 2000
(3) If a liquidator fails to make the application required by
subsection (2), a shareholder or creditor of the corporation may
apply to the Court for an order for the liquidator to show cause why
a final accounting and distribution should not be made.
(4) A liquidator shall give notice of the liquidator's intention to
make an application under subsection (2) to the Registrar, each
inspector appointed under section 218, each shareholder, each
creditor known to the liquidator and any person who provided a
security or fidelity bond for the liquidator.
(5) If the Court approves the final accounts rendered by a
liquidator, the Court shall make an order
(a) directing the Registrar to i ssue a certificate of dissolution,
(b) directing the custody or disposal of the documents and
records of the corporation, and
(c) subject to subsection (6), discharging the liquidator.
(6) The liquidator shall forthwith send or deliver a certified copy
of the order referred to in subsection (5) to the Registrar.
(7) On receipt of the order referred to in subsection (5), the
Registrar shall issue a certificate of dissolution in accordance with
section 267.
(8) The corporation ceases to exist on the date shown in the
certificate of dissolution.
1981 cB-15 s216