1. (1) A dissolved limited liability company continues its existence as a limited liability company but shall not carry on any business except as is appropriate to wind up and liquidate its business and affairs, including:

   1. (a) Collecting its assets;
   2. (b) Disposing of its properties that will not be distributed in kind to its members;
   3. (c) Discharging or making provision for discharging its liabilities;
   4. (d) Distributing its remaining property among its members; and
   5. (e) Doing every other act necessary to wind up and liquidate its business and affairs.
2. (2) A dissolved limited liability company may dispose of claims against it pursuant to sections 7-90-911 and 7-90-912.

Source: L. 2003: Entire part R&RE, p. 2269, § 192, effective July 1, 2004. L. 2006: (2) added, p. 863, § 35, effective July 1.

Editor's note: This section is similar to former § 8-80-807 as it existed prior to 2004.