SECTION 1. Section 7-1.2-1308 of the General Laws in Chapter 7-1.2 entitled "Rhode Island Business Corporation Act" is hereby amended to read as follows:

7-1.2-1308. Articles of dissolution. -- The corporation shall execute articles of dissolution by its authorized officer. The statement proclaims:

(a) The name of the corporation.

(b) That all debts, obligations, and liabilities of the corporation have been paid ~~and~~, discharged or have been subject to a completed bankruptcy proceeding under Title 11 of the U.S. Code ~~discharged or that adequate provision has been made for the payment~~.

(c) That all the remaining property and assets of the corporation have been distributed among its shareholders in accordance with their respective rights and interests.

(d) That there are not suits pending against the corporation in any court, or that adequate provision has been made for the satisfaction of any judgment, order, or decree which may be entered against it in any pending suit.

SECTION 2. This act shall take effect upon passage.

This act would make a technical change clarifying the provisions of the general laws governing the contents of articles of dissolution of a corporation.

This act would take effect upon passage.