Acts Triggering Dissolution

Unless otherwise provided in the articles or a written operating agreement, a limited liability company is dissolved upon the happening of any one of the following events:

  • At the time specified in an operating agreement, if none, then the LLC shall have a perpetual duration
  • Upon the occurrence of events specified in the operating agreement
  • Written consent of its members to dissolve or, if there is more than one class or group of members, then by each, by members who own more than 50% of the then-current percentage or other interest in the profits of the LLC owned by all of the members or by the members in each class or group, as appropriate
  • When there is no member left, unless the representative of the last remaining member agrees in writing to continue the LLC and admit a member within 90 days of the termination of the last membership
  • Entry of a decree of judicial dissolution