Acts Triggering Dissolution

A limited liability company is dissolved upon the happening of any one of the following events:

  • Events specified in the articles of organization or operating agreement
  • Consent by the specific number or percentage of members indicated in the operating agreement
  • Event that makes it illegal for the LLC to continue
  • When a member leaves the LLC, unless either of the following applies:
    • Within 90 days, the remaining members agree to continue the business
    • The company continues under a right specified in the operating agreement
  • Judicial decree