(1) A limited liability company formed under this article is dissolved:
(a) Upon the agreement of all members;
(b) At the time or upon the occurrence of the events stated in the operating agreement; or
(c) After the limited liability company ceases to have members, on the earlier of:
(I) The ninety-first day after the limited liability company ceases to have members unless, prior to that date, a person has been admitted as a member; or
(II) The date on which a statement of dissolution of the limited liability company becomes effective pursuant to section 7-90-304.
Source: L. 2003: Entire part R&RE, p. 2269, � 192, effective July 1, 2004. L. 2004: Entire section amended, p. 946, � 21, effective July 1. L. 2006: Entire section amended, p. 862, � 33, effective July 1.
Editor's note: This section is similar to former � 7-80-801 as it existed prior to 2004.