Section 347.149

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS

Chapter 347

Effective - 01 Dec 1993, see footnote   

  347.149.  Court may liquidate assets, when. — The court shall have full power to liquidate the assets and business of a limited liability company:

  (1)  In an action by a creditor, after dissolution of the limited liability company, when the claim of the creditor has been reduced to judgment and an execution thereon returned unsatisfied and it is established that the limited liability company is insolvent;

  (2)  Upon application by a limited liability company, or for cause shown, by a member, after dissolution, to have its liquidation continued under the supervision of the court;

  (3)  In an action filed by the attorney general after the issuance of a decree of dissolution for any of the causes provided in subsection 1 of section 347.143; or

  (4)  In an action filed by any member after the issuance of a decree of dissolution as provided in subsection 2 of section 347.143.

­­--------

(L. 1993 S.B. 66 & 20 § 359.798)

Effective 12-01-93