Section 53-19-39 - Dissolution. - New Mexico Statutes

53-19-39. Dissolution.

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

(1)     an event specified in the articles of organization or an operating agreement;   

(2)     except as otherwise provided in the articles of organization or an operating agreement, upon the written consent of members having a majority share of the voting power of all members; or   

(3)     entry of a decree of judicial dissolution pursuant to Section 53-19-40 NMSA 1978.   

B.     On the dissolution of the limited liability company, the limited liability company shall cease to carry on its business and affairs, except insofar as necessary for winding up the company's business and affairs, but its legal existence shall continue until all its business and affairs are wound up.