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Code · North Carolina · Chapter 57D — North Carolina Limited Liability Company Act

§ 57D-6-02. Grounds for judicial dissolution.

125 words·~1 min read·/nc/chapter-57d/57d-6-02

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§ 57D-6-02. Grounds for judicial dissolution.
The superior court may dissolve an LLC in a proceeding brought by either of the following:
(1)The Attorney General, if it is established that
(i)the LLC obtained its articles of organization through fraud or
(ii)the LLC continued to exceed or abuse the authority conferred on it by law 20 or more days after the date the Attorney General delivered to the LLC written notice of the LLC's unauthorized acts.
(2)A member, if it is established that
(i)it is not practicable to conduct the LLC's business in conformance with the operating agreement and this Chapter or
(ii)liquidation of the LLC is necessary to protect the rights and interests of the member. (2013-157, s. 2.)
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