Entities Entitled to Wind Up Company's Business or Affairs

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Sec. 4. Unless otherwise provided in a written operating agreement, the following may wind up the business or affairs of the limited liability company:

(1) The members or managers with authority to manage the limited liability company under IC 23-18-4-1.

(2) If a member or manager has engaged in wrongful conduct or upon other cause shown, the circuit or superior court of:

(A) the county in which the limited liability company's principal office is located; or

(B) if there is none in Indiana the county in which its registered office is located;

on application by a member or the member's legal representative or assignee.

As added by P.L.8-1993, SEC.301.


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