Sec. 10.50.410. Authority to wind up.
85 words·~1 min read·
/ak/title-10/chapter-50/10-50-410A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 10.50.410. Authority to wind up.
Unless otherwise provided in an operating agreement, the affairs of a limited liability company may be wound up by the
(1)members or managers who have authority under AS 10.50.110 to manage the company before dissolution; or
(2)superior court on the application of a member of the company or the member's legal representative or assignee if
(A)a member or manager identified in
(1)of this subsection has engaged in wrongful conduct; or
(B)other cause is shown.