29-782. Effect of dissolution


A. After the dissolution of a limited liability company, its separate existence
continues until any of the following occurs:


1. Articles of termination are filed with the commission.


2. A decree terminating the limited liability company is entered by a court of
competent jurisdiction.


3. The commission administratively dissolves the limited liability company.


B. After its dissolution, until its separate existence terminates, a dissolved
limited liability company shall not carry on any business except business that is
necessary to wind up and liquidate its business and affairs, including any of the
following:


1. Collecting its assets.


2. Disposing of its properties that will not be distributed in kind to its members.


3. Discharging or making provisions for discharging its liabilities.


4. Distributing its remaining property among its members according to the interests
of the members.


5. Doing all other acts required to liquidate its business and affairs.