Source: https://code.dccouncil.us/dc/council/code/sections/29-807.02.html
Timestamp: 2019-06-16 15:33:25
Document Index: 497219598

Matched Legal Cases: ['§ 29', '§ 29', '§ 29', '§ 29', '§ 29', '§ 29', '§ 29', '§ 29', '§ 29', '§ 29', '§ 29', '§ 2', '§ 2', '§ 29', '§ 29', '§ 29', '§ 29', '§\u2002702']

D.C. Law Library - § 29–807.02. Winding up.
↪ Subchapter VII. Dissolution and Winding up.
↪ § 29–807.02. Winding up.
§ 29–807.01. Events causing dissolution.
§ 29–807.03. Known claims against dissolved limited liability company.
§ 29–807.02. Winding up.
(a) A dissolved limited liability company shall wind up its activities and affairs, and, except as otherwise provided in § 29-807.06, shall continue after dissolution only for the purpose of winding up.
(b) In winding up its activities and affairs, a limited liability company:
(A) Discharge the company’s debts, obligations, or other liabilities, settle and close the company’s activities and affairs, and marshal and distribute the assets of the company; and
(B) Deliver to the Mayor for filing a statement of dissolution stating the name of the company and that the company is dissolved; and
(A) Preserve the company activities and affairs and property as a going concern for a reasonable time;
(B) Prosecute and defend actions and proceedings, whether civil, criminal, or administrative;
(C) Transfer the company’s property;
(D) Settle disputes by mediation or arbitration;
(E) Deliver to the Mayor for filing a statement of termination stating the name of the company and that the company is terminated; and
(c) If a dissolved limited liability company has no members, the legal representative of the last person to have been a member may wind up the activities and affairs of the company. If the person does so, the person shall have the powers of a sole manager under § 29-804.07(c) and shall be deemed to be a manager for the purposes of § 29-803.04(a)(2).
(d) If the legal representative under subsection (c) of this section declines or fails to wind up the company’s activities and affairs, a person may be appointed to do so by the consent of transferees owning a majority of the rights to receive distributions as transferees at the time the consent is to be effective. A person appointed under this subsection:
(1) Has the powers of a sole manager under § 29-804.07(c) and shall be deemed to be a manager for the purposes of § 29-803.04(a)(2); and
(2) Shall promptly deliver to the Mayor for filing an amendment to the company’s certificate of organization to:
(A) State that the company has no members;
(B) State that the person has been appointed pursuant to this subsection to wind up the company; and
(C) Provide the street and mailing addresses of the person.
(e) The Superior Court may order judicial supervision of the winding up of a dissolved limited liability company, including the appointment of a person to wind up the company’s activities and affairs:
(B) The legal representative of the last person to have been a member declines or fails to wind up the company’s activities and affairs; and
(C) Within a reasonable time following the dissolution a person has not been appointed pursuant to subsection (d) of this section; or
(3) In connection with a proceeding under § 29-807.01(a)(4) or (5).
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(h)(8)(B), 59 DCR 13171.)
This section is referenced in § 29-801.03, § 29-801.07, and § 29-802.03.
The 2013 amendment by D.C. Law 19-210 substituted “activities and affairs” for “activities” throughout the section; and substituted “except as otherwise provided in § 29-807.06, shall continue” for “the company shall continue” in (a).
Uniform Law: This section is based on § 702 of the Uniform Limited Company Act (2006 Act).