§ 17-29-701 — Events causing dissolution

(a) A limited liability company is dissolved, and its
activities must be wound up, upon the occurrence of any of the
following:
(i) An event or circumstance that the operating
agreement or articles of organization states causes dissolution;
(ii) The consent of all the members;
(iii) The passage of ninety (90) consecutive days
during which the company has no members;
(iv) On application by a member, the entry of a court
order dissolving the company on the grounds that:
(A) The conduct of all or substantially all of
the company's activities is unlawful; or
(B) It is not reasonably practicable to carry on
the company's activities in conformity with the articles of
organization and the operating agreement; or
(v) On application by a member or dissociated member,
the entry of a court order dissolving the company on the grounds
that the managers or those members in control of the company:
(A) Have acted, are acting, or will act in a
manner that is illegal or fraudulent; or
(B) Have acted or are acting in a manner that is
oppressive and was, is, or will be directly harmful to the
applicant.
(b) In a proceeding brought under paragraph (a)(v) of this
section, the court may order a remedy other than dissolution.