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2005 Minnesota Statutes

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This section has been affected by law enacted during the 2014 legislative session. More info...

322B.806 Nonjudicial dissolution by members.

Subdivision 1. Manner. A limited liability company may be dissolved by the members when authorized in the manner set forth in this section.

Subd. 2. Notice and approval. (a) Written notice shall be given to each member, whether or not entitled to vote at a meeting of members, within the time and in the manner provided in section 322B.34 for notice of meetings of members and, whether the meeting is a regular or a special meeting, must state that a purpose of the meeting is to consider dissolving the limited liability company and that dissolution must be followed by the winding up and termination of the limited liability company.

(b) The proposed dissolution must be submitted for approval at a meeting of members. If the proposed dissolution is approved at a meeting by the affirmative vote of the owners of a majority of the voting power of all membership interests entitled to vote, the limited liability company is dissolved.

HIST: 1992 c 517 art 2 s 106

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