Dissolution: Continued Existence
Under G.L.c. 155, §51 it is provided that “[e]very corporation whose charter expires by its own limitation or is annulled by forfeiture or otherwise, or whose corporate existence for other purposes is terminated in any other manner, shall nevertheless be continued as a body corporate for three years after the time it would have been so dissolved for the purpose of prosecuting and defending suits by or against it and of enabling it gradually to settle and close its affairs, to dispose of and convey its property [etc.] . . . .” (emphasis added.)
See also G.L.c. 156D, §14.05 as to the infinite existence of a corporation after dissolution. The provisions of this statute apply to corporations that were in existence on June 30, 2004.