State Codes and Statutes

State Codes and Statutes

Statutes > Wisconsin > 183 > 183.0901

183.0901

SUBCHAPTER IX
DISSOLUTION
183.0901 Dissolution. A limited liability company is dissolved and its affairs shall be wound up upon the happening of the first of the following:

183.0901(1)

(1) The occurrence of events specified in an operating agreement.

183.0901(2)

(2) The written consent of all members.

183.0901(3)

(3) The department administratively dissolves the limited liability company under s. 183.09025 (2) (c), unless the limited liability company is subsequently reinstated under s. 183.09025 (4) (b) or pursuant to judicial review under ss. 227.52 to 227.58.

183.0901(4)

(4) For a limited liability company organized before October 1, 2002, an event of dissociation of a member, unless any of the following applies:

183.0901(4)(a)

(a) The business of the limited liability company is continued by the consent of all of the remaining members within 90 days after the date on which the event occurs at which time the remaining members may agree to the admission of one or more additional members or to the appointment of one or more additional managers, or both.

183.0901(4)(b)

(b) Otherwise provided in an operating agreement.

183.0901(5)

(5) Entry of a decree of judicial dissolution under s. 183.0902.

183.0901 - ANNOT.

History: 1993 a. 112; 1995 a. 400; 2001 a. 44; 2003 a. 33.