I was asked today whether one member of a two member North Carolina LLC could force a dissolution of an LLC. While the operating agreement for the LLC could so provide, North Carolina statutes requires all members to consent in writing in order to dissolve an LLC. Of course, if it has no members, then it could be dissolved by the Organizers, and if no members for more than 90 days, it dissolves automatically.
Patrick
2 comments:
Is this just for N.C. or would it be common in most states?
While I think it is common, I am not well versed in other state's laws. I understand that in any state, the Members can agree on the percent needed to approve a dissolution. This is generally an advantage over the Corporate form of business, which typically only requires a majority vote.
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