[§428-411]  Continuation of limitedliability company after expiration of specified term.  (a)  If a limitedliability company that has a specified term is continued after the expirationof the term, the rights and duties of the members and managers remain the sameas they were at the expiration of the term, except to the extent inconsistentwith rights and duties of members and managers of an at-will company.

(b)  If the members in a member-managed limitedliability company or the managers in a manager-managed company continue thebusiness without winding up the business of the company, the company shallcontinue as an at-will company. [L 1996, c 92, pt of §1]