Section 137Sec./Art. 137

Withdrawal of Request and Petition for Dissolution. - A withdrawal of the request for dissolution shall be made in writing, duly verified by any incorporator, director, trustees, shareholder, or member and signed by the same number of incorporators, directors, trustees, shareholder, or member and signed by the same number of incorporators, directors, trustees, shareholders, or members necessary to request for dissolution as set forth in the foregoing sections.

The withdrawal shall be submitted no later than fifteen (15) days from receipt by the Commission of the request for dissolution, the Commission shall withhold action on the request for dissolution and shall, after investigation: (a) make a pronouncement that the request for dissolution is deemed withdrawn; (b) direct joint meeting of the board of directors or trustees and the stockholders or members for the purpose of ascertaining whether to proceed with dissolution; or (c) issue such other orders as it may deem appropriate.

A withdrawal of the petition for dissolution shall be in the form of a motion and similar in substance to a withdrawal of request for dissolution but shall be verified and filed prior to publication of the order setting the deadline for filing objections to the petition.