Administratively Disolved Corp

[micky]

If a corporation is administratively dissolved by the state, can another entity incorporate under the same name? And if so, what legal ramifications are there? FOr example, if the original corporation was in a lease agreement, who would assume the responsibility? Additionally, what are the liability ramifications? Is the second assumed corp liable for the sins of the first and original?

[cg410]

Your state probably has a rule about how long after admin dissolve another must wait to take the same name. The second corp wouldn't be liable for the actions of the first. But, good luck convincing people like D&B that you're a new company. It will take you some work.

--J

[rdc]

+1 to all of what cg410 said.

[GlobalWealth]

If a corporation is administratively dissolved by the state, can another entity incorporate under the same name? And if so, what legal ramifications are there? FOr example, if the original corporation was in a lease agreement, who would assume the responsibility? Additionally, what are the liability ramifications? Is the second assumed corp liable for the sins of the first and original?

Legally, there would be no connection. But from a practical standpoint, you would likely run into problems if you have the same name. If the old corp have past due vendor payables, past due taxes, or any other unpaid liabilities, you may have a difficult time convincing them this is a new company. Also credit agencies can make mistakes and attach the old companies credit to the new company causing potential problems. You could resolve this, but it may cause you a lot of headaches and time.