2019 US Virgin Islands Code
Title 13 - Corporations and Associations
Chapter 15 - Uniform Limited Liability Company Act
Subchapter VIII - Winding Up Company's Business
§ 1810. Procedure for and effect of administrative dissolution

Universal Citation: V.I. Code tit. 13, § 1810 (2019)
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  • (a) If the Lieutenant Governor determines that a ground exists for administratively dissolving a limited liability company, the Lieutenant Governor shall enter a record of the determination and serve the company with a copy of the record.

  • (b) If the company does not correct each ground for dissolution or demonstrate to the reasonable satisfaction of the Lieutenant Governor that each ground determined by the Lieutenant Governor does not exist within 60 days after service of the notice, the Lieutenant Governor shall administratively dissolve the company by signing a certification of the dissolution that recites the ground for dissolution and its effective date. The Lieutenant Governor shall file the original of the certificate and serve the company with a copy of the certificate.

  • (c) A company administratively dissolved continues its existence, but may carry on only business necessary to wind up and liquidate its business and affairs under section 1802 of this chapter and to notify claimants under sections 1807 and 1808 of this chapter.

  • (d) The administrative dissolution of a company does not terminate the authority of its agent for service of process.

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