2013 New Hampshire Revised Statutes
Title XXVIII - PARTNERSHIPS
Chapter 304-C - LIMITED LIABILITY COMPANIES
Section 304-C:141 - Certificate of Dissolution; Distributions of Assets Upon Liquidation of Limited Liability Company.


NH Rev Stat § 304-C:141 (2013) What's This?

    304-C:141 Certificate of Dissolution; Distributions of Assets Upon Liquidation of Limited Liability Company. –
    I. Before making any distributions of assets to any members and managers upon the winding up of a limited liability company, the limited liability company or any person or persons authorized to wind up the limited liability company's internal affairs shall first obtain a certificate of dissolution from the department of revenue administration in accordance with RSA 77-A:18.
    II. Upon the completion of the winding up of a limited liability company, the assets of the limited liability company shall be distributed as follows:
       (a) Payment, or adequate provision for payment, shall be made to creditors, including, to the extent permitted by law, members who are creditors in satisfaction of liabilities of the limited liability company;
       (b) Unless an operating agreement provides otherwise, to members and former members in satisfaction of liabilities for distributions under RSA 304-C:94 and RSA 304-C:105; and
       (c) Unless an operating agreement provides otherwise, to members first for the return of their contributions and second respecting their limited liability company interests.
    III. Distributions to members and former members under subparagraph II(b) shall be allocated in accordance with RSA 304-C:95.

Source. 2012, 232:2, eff. Jan. 1, 2013.


Disclaimer: These codes may not be the most recent version. New Hampshire may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.