(1) As being whole or majority owned by the Cowlitz Indian Tribe, the Tribal Council is the authority to approve or disapprove a proposed dissolution.

(2) A corporation shall send a notice to all shareholders of a proposed dissolution prior to a decision by Tribal Council to approve or disapprove a proposed dissolution.

(3) A corporation’s board of directors and any of the corporation’s shareholders are permitted the opportunity to testify before Tribal Council prior to a decision to approve or disapprove a proposed dissolution.

(4) Prior to a decision to approve or disapprove a proposed dissolution, the Economic Development and Operations Committee shall make a recommendation or comment upon of the effect of dissolution to the Tribal Council.

(5) Anyone is allowed to propose dissolution of a corporation to Tribal Council by submitting the reason to do so with the Tribal Secretary, Economic Development and Operations Committee, Economic Development and Operations Director, and the corporation proposed to be dissolved.

(6) The individual(s) proposing dissolution of a corporation shall provide evidence that each entity described in section (5) of this chapter have received the notice of proposed dissolution of a corporation.