SCS HCS HB 431 -- BUSINESS ORGANIZATIONS

This bill authorizes the automatic dissolution of a limited
liability company (LLC) after the withdrawal of the last
remaining member unless there is an agreement by the personal
representative of the last remaining member to continue the
company or if there is another member added within 90 days of the
withdrawal of the last remaining member.  Currently, an LLC is
dissolved upon the written consent of all members, when there are
no remaining members, or upon the occurrence of a condition in
the operating agreement or articles of incorporation of the LLC.
The bill revises the definition of "issuing public corporation"
in the general provisions for business corporations in Section
351.015, RSMo, and defines "domestic corporation" as a
corporation incorporated under Missouri laws in the merger and
consolidation provisions in Section 351.459.

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:19 am