Split Bean Corporation is formed to own and operate Split Bean Coffee Stands. The articles of incorporation prohibit Split Bean from selling or leasing any of its property without the approval of a majority of the directors. Following three years of increasing competition, decreasing business, and a mounting pile of debt, Split Bean officers enter into contracts to sell corporate property without notifying the directors.

Can Split Bean’s shareholders seek to dissolve the corporation in this situation? Dissolution can occur voluntarily by the directors and the ______________ of a corporation. State statutes establish the procedures. Dissolution proceedings can be initiated by a ______________ of the ______________ submitted at a shareholders’ meeting.

Proceedings may also be initiated by a ______________ ______________ of the ______________. Sometimes, due to misconduct, corporate dissolution can be sought through a court petition by ______________.