Final answer:
Business entities must comply with state laws regarding notification to the board after dissolution or closure/relocation.
Step-by-step explanation:
In the context of business entities, the requirement to notify the board within a specific timeframe after dissolution or closure/relocation is usually dictated by state laws. Each state may have its own notification requirements, so it is important to consult the specific state's statutes or regulations.
For example, in the United States, the Worker Adjustment and Retraining Notification (WARN) Act mandates that employers with more than 100 employees provide written notice 60 days before plant closings or large layoffs. This Act applies to covered employers in various industries, including manufacturing, mining, and transportation.
To determine the exact notification period and requirements for a specific business entity, it is advisable to seek legal counsel or consult the relevant state's laws.