Thank you for your question. I look forward to working with you to provide you the information you are seeking.
If you are not winding up your corporate entity, but are merely transferring the corporation
to new owners who will assume all of the corporations
assets and liabilities, then you do not have to publish notices of the sale and you merely send a letter to each of your creditors that the new owner of the corporation has assumed liability for all of the debts of the corporation, which remains liable for the debts to those creditors. The exception to this is that you remain liable for any personal guarantees on any debts and for those you have to get the creditor to agree in writing to substitute someone from the new owners as a guarantor or you would remain personally liable.
If you are only selling off the assets of the corporation, then the "Bulk sales" laws are intended to prevent business owners from defrauding or evading creditors by transferring all (or a substantial portion) of the assets of the business to another individual or entity. The corporation must prepare a Notice to Creditors of Bulk Transfer and mailed to known creditors. Additionally, the notice is printed in a general circulation paper that covers the judicial district in which the property being transferred is located, at least 12 business days prior to the date of transfer of the property. The notice must also be published in the judicial district where the principal executive office of the prior business is located. Copies must be filed in each judicial district or county where the property is located and where the prior business had its principal executive office, with the county tax collector and the county recorder, at least 12 business days prior to the transfer.
If none of the creditors file claims, then the new owner can take the assets free of any subsequent claims.
I truly aim to please you as a customer, but please keep in mind that I do not know what you already know or don't know, or with what you need help, unless you tell me. Please consider that I am answering the question or question that is posed in your posting based upon my reading of your post and sometimes misunderstandings can occur. If I did not answer the question you thought you were asking, please respond with the specific question you wanted answered.
Kindly remember the ONLY WAY experts receive any credit at all for spending time with customers is if you click on OK, GOOD or EXCELLENT SERVICE even though you have made a deposit or are a subscription customer. YOU MUST COMPLETE THE RATING FOR THE EXPERT TO RECEIVE ANY CREDIT, if not the site keeps your money on deposit.
Also remember, sometimes the law does not support what we want it to support, but that is not the fault of the person answering the question, so please be courteous.