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Current as of January 01, 2024 | Updated by Findlaw Staff
1. A limited liability company may be involuntarily dissolved, wound up, and terminated by a decree of a court in this state in an action filed by the attorney general when it is established that:
a. The articles of organization were procured through fraud;
b. The limited liability company was organized for a purpose not permitted by this chapter;
c. The limited liability company failed to comply with the requirements essential to organization under this chapter;
d. The limited liability company has flagrantly violated a provision of this chapter, has violated a provision of this chapter more than once, or has violated more than one provision of this chapter; or
e. The limited liability company has acted, or failed to act, in a manner that constitutes surrender or abandonment of the limited liability company privileges or enterprise.
2. The attorney general may bring an action to enjoin a foreign limited liability company from transacting business in this state in violation of this chapter.
3. An action must not be commenced under this section until thirty days after notice to the limited liability company by the attorney general of the reason for the filing of the action. If the reason for filing the action is an act that the limited liability company has done, or omitted to do, and the act or omission may be corrected by an amendment of the articles of organization, a member control agreement, or the bylaws or by performance of or abstention from the act, then the attorney general shall give the limited liability company thirty additional days in which to effect the correction before filing the action.
Cite this article: FindLaw.com - North Dakota Century Code Title 10. Corporations § 10-32.1-98. Attorney general--Action by the attorney general - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-10-corporations/nd-cent-code-sect-10-32-1-98/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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