North Carolina General Statutes 57D-6-02. Grounds for judicial dissolution
Current as of: 2023 | Check for updates
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The superior court may dissolve an LLC in a proceeding brought by either of the following:
(1) The Attorney General, if it is established that (i) the LLC obtained its articles of organization through fraud or (ii) the LLC continued to exceed or abuse the authority conferred on it by law 20 or more days after the date the Attorney General delivered to the LLC written notice of the LLC’s unauthorized acts.
(2) A member, if it is established that (i) it is not practicable to conduct the LLC’s business in conformance with the operating agreement and this Chapter or (ii) liquidation of the LLC is necessary to protect the rights and interests of the member. ?(2013-157, s. 2.)
Terms Used In North Carolina General Statutes 57D-6-02
- following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
- Fraud: Intentional deception resulting in injury to another.