Fill and Sign the Llc Article 7 the New York State Senate Form

LIMITED LIABILITY COMPANY DISSOLUTION PACKET:STATE OF NEW YORK Electronic Version INTRODUCTORY NOTES STATUTORY REFERENCE NEW YORK CONSOLIDATED LAWS, Chapter 34, Article 7, §§ 701-705 NOTICE: This form packet deals ONLY with voluntary dissolution. Judicial dissolution is not addressed. DISSOLUTION A limited liability company (LLC) is dissolved and it must wind up its business a ffairs upon the first to happen of the following: the latest date on which the limited liability company is to dissolve as a nd if provided in the articles of organization or at the time specified in the operating agree ment. If no date of dissolution is provided in the articles or the operating agreement, then the LLC has perpetual existence.  the occurrence of that (those) event(s) specified in the operating agreement which trigge r dissolution;  the vote or written consent of at least a majority in interest of the membe rs (if there is more than one class or group of members, then by at least a majority in interest of e ach class or group of members) subject to any requirement in the operating agreement requiring approval by a greater or lesser percentage in interest of the members or cla ss or classes or group or groups of members; at any time there are no members (unless otherwise provided in the operating agreement , the limited liability company is not dissolved and is not required to be wound up if, within one hundred eighty days or such other period as is provided for in the operating agreement after the occurrence of the event that terminated the continued mem bership of the last remaining member, the legal representative of the last remaining me mber agrees in writing to continue the limited liability company and to the admission of the legal representative of such member or its assignee to the limited liability company as a member, effective as of the occurrence of the event that terminated the continue d membership of the last remaining member); or  the entry of a decree of judicial dissolution. Unless the operating agreement provides to the contrary, the death, retirement, resignat ion, expulsion, bankruptcy or dissolution of any member or the occurrence of any other event that terminates the continued membership of any member does not cause the limited l iability company to be dissolved or its affairs to be wound up. Upon the occurrence of any such event, the limited liability company continues without dissolution unless within one hundred eighty days following the occurrence of such event, a majority in interest of all of the rema ining members of the LLC or, if there is more than one class or group of members, then by a majority in interest of all the remaining members of each class or group of members, vote or agre e in writing to dissolve the LLC. WINDING UP When a LLC is dissolved, and unless the operating agreement calls for a different procedure , the members may wind up the LLC's affairs. Upon dissolution of a LLC, the persons winding up the LLC's affairs may, in the name of the LLC and without affecting the liability of members (including members participa ting in the winding up of the LLC's affairs): prosecute and defend suits, civil, criminal and administrative;  settle and close the LLC's business; dispose of and convey the LLC's property;  discharge the LLC's liabilities; and  distribute to the members any remaining assets of the LLC. DISTRIBUTION OF ASSETS The assets of a dissolved LLC must be distributed as follows:to creditors, including members who are creditors, to the extent permitted by law, in satisfaction of liabilities of the LLC, whether by payment or by establishment of adequate reserves (this does not include liabilities for distributions to members and former members under § 507 or § 509 of Chapter 34);  to members and former members in satisfaction of liabilities for distributions under § 507 or § 509 of Chapter 34 (or as provided in the operating agreement); and  except as provided in the operating agreement, to members first for the return of thei r contributions, to the extent not previously returned, and second respecting their membership interests, in the proportions in which the members share in distributions in accordance with § 504 of Chapter 34. ARTICLES OF DISSOLUTION Within ninety days following the dissolution and the commencement of winding up of the L LC (or at any other time after the expiration of the time period for continuation of t he LLC, articles of dissolution must be filed with the Secretary of State. The cancellation of the articles of organization does not affect the liabili ty of the members during the period of winding up and termination of the LLC. STEPS AND GUIDELINES TO DISSOLVE A NEW YORK LIMITED LIABILITY COMPANY Step 1: SEE FORM 1 - CONSENT OF MEMBERS TO DISSOLUTION Step 2: Complete the winding up process as set out above in the Introductory Notes. Step 3: SEE FORM 2 - ARTICLES OF DISSOLUTION Instructions to complete the Articles of Dissolution: The Articles should be typed or printed legibly in black ink.  FIRST - Provide the name of the LLC (if the name has been changed, provide the name under which the LLC was organized).and the file number of the LLC.  SECOND - Provided the date on which the original articles of organization were filed.  THIRD - Describe the events giving rise to the dissolution (see introductory notes).  Provide the signature, the typed/printed name of the signer, and the title of the signer.  File the original and one copy of the Articles of Dissolution.  The filing fee is $60.00. Mail the original and one copy of the ARTICLES OF DISSOLUTION and the $60.00 filing fee (make check payable to the Secretary of State) to: New York Department of State Division of Corporations 41 State Street, Albany, NY 12231 Fax: (518) 474-4765 Telephone: (518) 474-0050 A cover letter to send with the Articles of Dissolution is included. SEE FORM A - TRANSMITTAL LETTER Disclaimer: If you are not an attorney, you are advised to seek the advice of an attorney for all serious legal matters. The information and forms contained herein are not legal advice and are not to be construed as such. Although the information contained herein is believed to be correct, no warranty of fitness or any other warranty shall apply. All use is subject to the U.S. Legal Forms, Inc. Disclaimer and License located at http://www.uslegalforms.com/disclaimer.htm FORM A TRANSMITTAL LETTER Return Name and Address ____________________________________ ____________________________________ ____________________________________ ____________________________________ Date New York Department of State Division of Corporations 41 State Street, Albany, NY 12231 Re: Articles of Dissolution Dear Sir: Enclosed you will find the original and one copy of Articles of Dissolution and the filing fee of $60.00. Please file and provide a “filed” copy to me. Please contact me at the above address if you require anything further. With kindest regards, I am Sincerely yours, Enclosures Check # __________ Enclosed for $________ FORM 1 CONSENT OF MEMBERS TO DISSOLUTION RESOLUTION OF MEMBERS OF ________________________________________ A NEW YORK LIMITED LIABILITY COMPANY The undersigned, being all the members of _______________________________________, a New York limited liability company, hereby consent to the dissolution of the limited liability company. Dated this the ______ day of ______________________________, 20___. ____________________________________ Member ____________________________________ Member ____________________________________ Member FORM 2 ARTICLES OF DISSOLUTION Download the form by clicking this link or directing your internet browser here: http://www.uslegalforms.com/dissolution/NY/NY-DissLLC.pdf