2017 Arizona Revised Statutes
Title 29 - Partnership
§ 29-781 Dissolution

Universal Citation: AZ Rev Stat § 29-781 (2017)

29-781. Dissolution

A limited liability company organized under this chapter is dissolved on the occurrence of the first of the following:

1. At the time or on the happening of the events specified for dissolution in the articles of organization or an operating agreement.

2. Except as otherwise provided in an operating agreement, the written consent to dissolve by more than one-half of the members and by one or more members who on dissolution and liquidation of the assets of the limited liability company would be entitled to receive assets valued at more than one-half of the value of all assets distributed to all members on liquidation.

3. Involuntary judicial dissolution under section 29-785 or an administrative dissolution under section 29-786.

4. Except as otherwise provided in an operating agreement, an event of withdrawal of the last remaining member unless within ninety days all assignees by written consent admit at least one member pursuant to section 29-731, subsection B, paragraph 4 to continue the business of the limited liability company.

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