605.2502 Winding up dissolved protected series.
336 words·~2 min read·
/fl/title-xxxvi/chapter-605/605-2502·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Subject to subsections
(2)and
(3)and in accordance with s. 605.2108 , the following apply:
(a)A dissolved protected series shall wind up its activities and affairs in the same manner that a dissolved limited liability company winds up its activities and affairs under s. 605.0709 , subject to the same requirements and conditions, and with the same effects.
(b)Judicial supervision or another judicial remedy is available in the winding up of the protected series to the same extent, in the same manner, under the same conditions, and with the same effects that apply under s. 605.0709 (5).
(2)When a protected series of a series limited liability company dissolves, the company may deliver to the department for filing its articles of protected series dissolution stating the name of the series limited liability company and the protected series and that the protected series is dissolved. The filing of the articles of dissolution by the department has the same effect with regard to the protected series as the filing by a limited liability company of articles of dissolution with the department under s. 605.0707 .
(3)When a protected series of a series limited liability company has completed winding up in accordance with s. 605.0709 , the company that established the protected series may deliver to the department for filing a statement of designation cancellation, stating all of the following:
(a)The name of the company and the protected series.
(b)That the protected series is terminated with the effective date of the termination if that date is not the date of filing of the statement of designation cancellation.
(c)Any other information required by the department.
(4)The filing of the statement of designation cancellation by the department has the same effect as the filing by the department of a statement of termination under s. 605.0709 (7).
(5)A series limited liability company has not completed its winding up until each of the protected series of the company has completed its winding up.