1996 Alaska Statutes
TITLE 10 CORPORATIONS AND ASSOCIATIONS
Chapter 10.50. LIMITED LIABILITY COMPANIES
Article 11 DISSOLUTION
Sec. 10.50.400. Dissolution.
A limited liability company is dissolved and its affairs shall be wound up if
(1) an event occurs that is identified in the articles of organization or an operating agreement as causing dissolution; if an election under AS 10.50.085 (a) is in effect, the event does not cause dissolution unless the event is identified in the articles or operating agreement before or at the same time the election is stated in the articles;
(2) all of the members of the company consent in writing unless an election under AS 10.50.085 (a) is in effect;
(3) a person's membership in the company terminates, unless
(A) the affairs of the company are continued by the consent of all of the remaining members on or before the 90th day following the termination of the membership;
(B) an operating agreement provides otherwise; or
(C) an election under AS 10.50.085 (a) is in effect and
(i) the election provides that the termination does not cause the company to dissolve; or
(ii) the person whose membership terminates is not a manager of the company; or
(4) the superior court enters a decree for judicial dissolution of the company under AS 10.50.405 .
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