Replies to post #15862 on Prom Resources Inc (PRMO)

[11_j_11]

The involuntary dissolution of a corporation/LLC by a state's authority. Corporations/LLC's that fail to comply with certain statutory requirements such as filing an annual report, paying franchise taxes, or maintaining a valid registered agent may face administrative dissolution and or suspension until such time as the issue is resolved

[Sola Fide]

17. What is the difference between involuntary dissolution and administrative dissolution?

Involuntary Dissolution and Administrative Dissolution have the same meaning. Administrative Dissolution is an updated term which became effective with the rewrite of chapter 607, F.S., the Florida Business Corporation Act in 1990. The dissolution usually occurs when the corporation fails to file its annual report and the Division takes administrative action against the corporation.