West Virginia § 31B-4-411 Continuation of term company after expiration of specified term

West Virginia Statutes

§ 31B-4-411 — Continuation of term company after expiration of specified term

West Virginia § 31B-4-411

Ch. 31BUNIFORM LIMITED LIABILITY COMPANY ACT

Art. 4RELATIONS OF MEMBERS TO EACH OTHER AND TO LIMITED LIABILITY COMPANY

This text of West Virginia § 31B-4-411 (Continuation of term company after expiration of specified term) is published on Counsel Stack Legal Research, covering West Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

W. Va. Code § 31B-4-411 (2026).

Text

(a)If a term company is continued after the expiration of the specified term, the rights and duties of the members and managers remain the same as they were at the expiration of the term except to the extent inconsistent with rights and duties of members and managers of an at-will company.

(b)If the members in a member-managed company or the managers in a manager-managed company continue the business without any winding up of the business of the company, it continues as an at-will company.

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(a) If a term company is continued after the expiration of the specified term, the rights and duties of the members and managers remain the same as they were at the expiration of the term except to the extent inconsistent with rights and duties of members and managers of an at-will company.

(b) If the members in a member-managed company or the managers in a manager-managed company continue the business without any winding up of the business of the company, it continues as an at-will company.