The bill amends the procedure for the administrative dissolution of nonprofit corporations in West Virginia, specifically focusing on the role of the Secretary of State. It mandates that if the Secretary of State identifies grounds for dissolution, the corporation must be notified via certified mail. The corporation is then given 60 days to rectify the issues or prove that the grounds for dissolution do not exist. If the corporation fails to do so, the Secretary of State will proceed with the administrative dissolution by filing a certificate that outlines the reasons for dissolution and its effective date. Additionally, if an email address is on file, the Secretary of State is required to send electronic notice along with the certificate.

The bill also clarifies that a corporation that has been administratively dissolved will still maintain its corporate existence but is restricted from conducting any business except for activities necessary to wind up and liquidate its affairs. Furthermore, the dissolution does not terminate the authority of the corporation's registered agent. This legislative change aims to streamline the dissolution process and ensure that nonprofit corporations are adequately informed of their status and obligations.

Statutes affected:
Introduced Version: 31E-13-1321
Committee Substitute: 31E-13-1321
Enrolled Committee Substitute: 31E-13-1321