(a)Any corporation may elect voluntarily to wind up and dissolve (1)by approval of a majority of all members (Section 5033) or (2)by approval of the board and approval of the members (Section 5034).
(b)Any corporation which comes within one of the following descriptions may elect by approval of the board to wind up and dissolve:
(1)A corporation which has been adjudicated a bankrupt.
(2)A corporation which has disposed of all of its assets and has not conducted any activity for a period of five years immediately preceding the adoption of the resolution electing to dissolve the corporation.
(3)A corporation which has no members.
(4)A corporation which is required to dissolve under provisions of its articles adopted pursuant to subdivision (a), paragraph (2), clause (i), of Section 5132.