Section 347.143

There are multiple enactments of 347.143

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS

Chapter 347

Effective - 28 Aug 2026, 2 histories, see footnote   

  347.143.  Involuntary dissolution, decree, action by attorney general, grounds — action upon application by member. — 1.  A limited liability company may be dissolved involuntarily by a decree of the circuit court for the county in which the registered office of the limited liability company is situated in an action filed by the attorney general when it is established that the limited liability company:

  (1)  Has procured its articles of organization through fraud;

  (2)  Has exceeded or abused the authority conferred upon it by law;

  (3)  Has carried on, conducted, or transacted its business in a fraudulent or illegal manner; or

  (4)  By the abuse of its powers contrary to the public policy of the state, has become liable to be dissolved.

  2.  On application by or for a member, the circuit court for the county in which the registered office of the limited liability company is located may decree dissolution of a limited liability company if the court determines:

  (1)  It is not reasonably practicable to carry on the business in conformity with the operating agreement;

  (2)  Dissolution is reasonably necessary for the protection of the rights or interests of the complaining members;

  (3)  The business of the limited liability company has been abandoned;

  (4)  The management of the limited liability company is deadlocked or subject to internal dissension;

  (5)  The business operations of the limited liability company are substantially impaired; or

  (6)  Those in control of the limited liability company have been found guilty of, or have knowingly countenanced, persistent and pervasive fraud, mismanagement, or abuse of authority.

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(L. 1993 S.B. 66 & 20 § 359.789, A.L. 2026 H.B. 2508)

Severability clause, see § 347.144