When does an organization stop existing as an entity eligible to hold a license?

An organization ceases to exist as an entity eligible to hold a license primarily upon dissolution. This event typically signifies that the organization has completed its business dealings and has formally ceased operations. In the case of a corporation, once it is dissolved, it can no longer engage in business activities, which includes holding any licenses necessary for operation.

While termination of contracts occurs frequently in business and can affect operational capability, it does not inherently dissolve the legal entity itself. Entities can terminate contracts while remaining in existence and potentially holding licenses. Therefore, an organization remains active and can still hold licenses until it goes through the formal process of dissolution.

Similarly, the dissolution of a copartnership or termination of an association results in the cessation of the entity's legal status and ability to hold licenses. However, the answer focuses specifically on the formal dissolution process, marking it as the point when an organization is no longer eligible to hold a license.