Legal Question in Business Law in California
Reviving an old corporation
(a) Can anyone, not previously
connected with a business, revive an
old corporation if all its initial directors
have died and the corporation was
never dissolved? (b) Would their action
be legal or illegal?
2 Answers from Attorneys
Re: Reviving an old corporation
The same is true in Georgia. The owners could possibly reinstate the company, but not a uninvolved third party.
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Re: Reviving an old corporation
No, the directors are not the key, the shareholders are - the shares pass to the heirs or designated beneficiaries of the deceased owners.
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