Section 347.143

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS

Chapter 347

Effective - 01 Dec 1993, see footnote   

  347.143.  Involuntary dissolution, decree, action by attorney general, grounds — action upon application by member. — 1.  A limited liability company may be dissolved involuntarily by a decree of the circuit court for the county in which the registered office of the limited liability company is situated in an action filed by the attorney general when it is established that the limited liability company:

  (1)  Has procured its articles of organization through fraud;

  (2)  Has exceeded or abused the authority conferred upon it by law;

  (3)  Has carried on, conducted, or transacted its business in a fraudulent or illegal manner; or

  (4)  By the abuse of its powers contrary to the public policy of the state, has become liable to be dissolved.

  2.  On application by or for a member, the circuit court for the county in which the registered office of the limited liability company is located may decree dissolution of a limited liability company whenever it is not reasonably practicable to carry on the business in conformity with the operating agreement.

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(L. 1993 S.B. 66 & 20 § 359.789)

Effective 12-01-93