§ 7-90-908 — Dissolution of delinquent entity

(1) If a delinquent domestic
entity has failed to cure its delinquency for three years or more, any manager of the
domestic entity may cause it to dissolve by delivering to the secretary of state, for
filing pursuant to part 3 of this article, a statement of dissolution of delinquent
entity stating:

(a) The domestic entity name of the delinquent entity;

(b) The principal office address of the delinquent entity's principal office;

(c) That the entity is delinquent and has failed to cure its delinquency for
three years or more; and

(d) That, at least thirty days prior to the delivery of the statement of
dissolution of delinquent entity to the secretary of state, the delinquent entity has
delivered written notice of the delinquent entity's plan to file a statement of
dissolution of delinquent entity to all owners and other persons having authority
under the organic statutes and under its constituent operating document to bring
about or prevent dissolution of the entity and the delinquent entity has not
received, as of the date the statement of dissolution of delinquent entity is
delivered for filing to the secretary of state, written objections to dissolution from
such number of such owners and other persons as would be sufficient to prevent
voluntary dissolution of the delinquent entity under the organic statutes and its
constituent operating document.

(2) A delinquent domestic entity is dissolved upon the effective date of its
statement of dissolution of delinquent entity.

Legislative History

Source: L. 2005: Entire part added, p. 1215, � 20, effective October 1.