Acts Triggering Dissolution

A LLC is dissolved upon the happening of any one of the following events:

  • At the time or upon the event specified for dissolution in the articles or an operating agreement
  • Written consent to dissolve by more than one-half of the members and by one or more members who on dissolution and liquidation of the assets of the LLC would be entitled to receive assets equivalent to more than 50 % of all assets distributed to all members on liquidation unless otherwise provided in an operating agreement
  • Entry of a judgment of dissolution or an administrative dissolution
  • An event of withdrawal of the last remaining member unless within 90 days all assignees by written consent admit at least one member continues the business of the LLC unless provided in an operating agreement