1999 Minnesota Statutes

     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