Current as of January 01, 2018 | Updated by FindLaw Staff
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1. A limited liability company is dissolved, and its activities must be wound up, upon the occurrence of any of the following:
a. An event or circumstance that the operating agreement states causes dissolution.
b. The consent of all the members.
c. Once the company has at least one member, the passage of ninety consecutive days during which the company has no members.
d. On application by a member, the entry by a district court of an order dissolving the company on the grounds that any of the following applies:
(1) The conduct of all or substantially all of the company's activities is unlawful.
(2) It is not reasonably practicable to carry on the company's activities in conformity with the certificate of organization and the operating agreement.
e. On application by a member or transferee, the entry by a district court of an order dissolving the company on the grounds that the managers or those members in control of the company have done any of the following:
(1) Have acted, are acting, or will act in a manner that is illegal or fraudulent.
(2) Have acted or are acting in a manner that is oppressive and was, is, or will be directly harmful to the applicant.
2. In a proceeding brought under subsection 1, paragraph “e”, the court may order a remedy other than dissolution.
No person may operate a vehicle transporting a building, as defined in s. 348.27(12m)(a)1., on a highway unless all of the following apply:
(1) The vehicle is a commercial motor vehicle and the person holds a valid commercial driver license.
(2) The vehicle is operated under a valid motor carrier certificate or license of authority issued under ch. 194 or under applicable federal law, and all insurance requirements applicable to the vehicle under s. 194.41 or federal law are satisfied.
Cite this article: FindLaw.com - Wisconsin Statutes Property (Ch. 700 to 710) § 705.23. Registration in beneficiary form; applicable law - last updated January 01, 2018 | https://codes.findlaw.com/wi/property-ch-700-to-710/wi-st-705-23.html
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