§428-803  Right to wind up the limitedliability company's business.  (a)  After dissolution, a member who has notwrongfully dissociated may participate in winding up a limited liabilitycompany's business; provided that on application of any member, member's legalrepresentative, or transferee, the circuit court, for good cause shown, mayorder judicial supervision of the winding up.

(b)  A legal representative of the lastsurviving member may wind up a limited liability company's business.

(c)  A person winding up a limited liabilitycompany's business may preserve the company's business or property as a goingconcern for a reasonable time, prosecute and defend actions and proceedings,whether civil, criminal, or administrative, settle and close the company'sbusiness, dispose of and transfer the company's property, discharge thecompany's liabilities, distribute the assets of the company pursuant to section428-806, settle disputes by mediation or arbitration, and perform othernecessary acts and may publish notice of intent to terminate as provided insection 428-808. [L 1996, c 92, pt of §1; am L 2001, c 129, §95]