SINGLE-MEMBER. (Applies ONLY if Single-Member): The Company will dissolve and its affairs settled when the first of the following occurs: i. When the appointed time or when an event stipulated in the Articles or Organization or this Agreement occurs. ii. The Member determines that the Company will be dissolved If the Member dies, the Company will be dissolved. The Member create written documentation that appoints an individual to wind down the business of the Company and transfer the Member’s interests or the Members capital account in accordance with the Member’s wishes or as required by law. If the Member becomes disabled, the Member can act as manager or designate another individual to serve in their stead indefinitely or until the interests and capital accounts of the Member have been properly distributed or transferred.
Appears in 7 contracts
Samples: Operating Agreement, Operating Agreement, Limited Liability Company Operating Agreement
