Statutory Dissolution
/ˈstætʃəˌtɔri dɪˈzɑːlʊʃən/
Definitions
- (n.) The formal termination of a legal entity or contractual obligation as authorized and governed by statute.
The company's statutory dissolution was completed after all debts were settled.
Forms
- statutory dissolution
- statutory dissolutions
Related terms
See also
Commentary
Statutory dissolution specifically refers to ending a legal status or entity in accordance with a statute, distinct from voluntary or judicial dissolution.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.