Don’t Get Ambushed By Administrative Dissolution

It’s a not uncommon occurrence, typically the result of inadvertent failure to pay a tax or tardiness with an annual report, and often a company that experiences administrative dissolution, or a similar process called administrative revocation, is not aware it has occurred. In a Today’s General Counsel article, Sandra Feldman from CT Corporation, a Wolters Kluwer business, looks at what happens and what can be done about it.  Reinstatement is possible, but there are time constraints and some problems that may have arisen – loss of corporate name and, in rare instances, personal liability of principals, could be among them – may not be correctable.