2005 Idaho Code - 53-643B — PROCEDURE FOR AND EFFECT OF ADMINISTRATIVE DISSOLUTION

                                  TITLE  53
                                 PARTNERSHIP
                                  CHAPTER 6
                     IDAHO LIMITED LIABILITY COMPANY ACT
    53-643B.  PROCEDURE FOR AND EFFECT OF ADMINISTRATIVE DISSOLUTION. (1) If
the secretary of state determines that one (1) or more grounds exist under
section 53-643A, Idaho Code, for dissolving a limited liability company, he
shall give notice of his determination to the limited liability company by
first class mail addressed to its principal office as indicated on its most
recent annual report or, if it has not yet filed an annual report, to its
registered office.
    (2)  If the limited liability company does not correct each ground for
dissolution or demonstrate to the reasonable satisfaction of the secretary of
state that each ground determined by the secretary of state does not exist
within sixty (60) days after receipt of the notice of determination, the
secretary of state shall administratively dissolve the limited liability
company by noting the fact of dissolution and the effective date thereof in
his records. The secretary of state shall give notice of the dissolution to
the limited liability company by first class mail addressed to its principal
office as indicated on its most recent annual report or, if it has not yet
filed an annual report, to its registered office.
    (3)  A limited liability company administratively dissolved continues its
existence but may not carry on any business except that necessary to wind up
and liquidate its business and affairs under section 53-644, Idaho Code, and
notify claimants under sections 53-648 and 53-649, Idaho Code.
    (4)  The administrative dissolution of a limited liability company does
not terminate the authority of its registered agent.