Title 31: PARTNERSHIPS AND ASSOCIATIONS

Chapter 13: LIMITED LIABILITY COMPANIES

Subchapter 9: DISSOLUTION

§701. Nonjudicial dissolution

(CONTAINS TEXT WITH VARYING EFFECTIVE DATES)

(WHOLE SECTION TEXT EFFECTIVE UNTIL 7/1/11)

A limited liability company is dissolved and its affairs are wound up upon the first to occur of the following: [1993, c. 718, Pt. A, §1 (NEW).]

1. Specified time or event. At the time or upon the happening of events specified in a limited liability company operating agreement or articles of organization;

[ 1993, c. 718, Pt. A, §1 (NEW) .]

2. Consent. Written consent of all members; or

[ 1997, c. 633, §17 (AMD) .]

3. Withdrawal of a member.

[ 1997, c. 633, §18 (RP) .]

4. Judicial dissolution. Entry of decree of judicial dissolution under section 702.

[ 1993, c. 718, Pt. A, §1 (NEW) .]

SECTION HISTORY

1993, c. 718, §A1 (NEW). 1997, c. 633, §§17,18 (AMD). 2009, c. 629, Pt. A, §1 (RP). 2009, c. 629, Pt. A, §3 (AFF).