347.147. Right to wind up upon dissolution--authorization. - Missouri Statutes

Right to wind up upon dissolution--authorization.

347.147. Unless otherwise provided in the operatingagreement, upon the dissolution of the limited liability company,the member or members who have not wrongfully dissolved thelimited liability company or the legal representative of the lastsurviving member, not bankrupt, have, if management is vested inthe members, the right to wind up the limited liability companyaffairs or, if management is vested in one or more managers, theright to authorize such manager or managers to undertake any actappropriate for winding up the affairs of the limited liabilitycompany or completing transactions unfinished at dissolution,except that any member, his legal representative or his assignee,upon cause shown, may obtain winding up by the court.

(L. 1993 S.B. 66 & 20 § 359.795)

Effective 12-1-93