347.143. Involuntary dissolution, decree, action by attorney general, grounds--action upon application by member.
Involuntary dissolution, decree, action by attorney general,grounds--action upon application by member.
347.143. 1. A limited liability company may be dissolvedinvoluntarily by a decree of the circuit court for the county inwhich the registered office of the limited liability company issituated in an action filed by the attorney general when it isestablished that the limited liability company:
(1) Has procured its articles of organization throughfraud;
(2) Has exceeded or abused the authority conferred upon itby law;
(3) Has carried on, conducted, or transacted its businessin a fraudulent or illegal manner; or
(4) By the abuse of its powers contrary to the publicpolicy of the state, has become liable to be dissolved.
2. On application by or for a member, the circuit court forthe county in which the registered office of the limitedliability company is located may decree dissolution of a limitedliability company whenever it is not reasonably practicable tocarry on the business in conformity with the operating agreement.
(L. 1993 S.B. 66 & 20 § 359.789)Effective 12-1-93