§428-803  Right to wind up the limited
liability company's business.  (a)  After dissolution, a member who has not
wrongfully dissociated may participate in winding up a limited liability
company's business; provided that on application of any member, member's legal
representative, or transferee, the circuit court, for good cause shown, may
order judicial supervision of the winding up.



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



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