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What can an LLC do after it has filed articles of dissolution? The LLC may

• Continue to exist as an LLC to wind up and liquidate its business and affairs.

• Collect its assets.

• Dispose of properties that will not be distributed to its members.

• Discharge or make provision for discharging its liabilities.

• Distribute its remaining properties among its members according to their interests.

What can’t the LLC do after articles of dissolution have been filed? It can’t do anything not reasonably calculated to conclude its business. For example, signing a long-term contract to supply goods to another business or obligating the dissolving LLC to purchase goods over a long term would not be consistent with an intent to dissolve the LLC.

▼ Good to Know

Because of the serious consequences of dissolution, the managers should notify each member of the proposed dissolution plan and the time, place, and date of the members’ meeting to vote on the plan. In some states, even the holders of nonvoting shares may be eligible to vote on a plan to dissolve.