Winding up

(a) A dissolved limited liability company shall wind up its activities and affairs, and, except as otherwise provided in § 29-807.06, shall continue after dissolution only for the purpose of winding up. (b) In winding up its activities and affairs, a limited liability company: (1) Shall: (A) Discharge the company’s debts, obligations, or other liabilities, settle and close the company’s activities and affairs, and marshal and distribute the assets of the company; and (B) Deliver to the Mayor for filing a statement of dissolution stating the name of the company and that the company is dissolved; and (2) May: (A) Preserve the company activities and affairs and property as a going concern for a reasonable time; (B) Prosecute and defend actions and proceedings, whether civil, criminal, or administrative; (C) Transfer the company’s property; (D) Settle disputes by mediation or arbitration; (E) Deliver to the Mayor for filing a statement of termination stating the name of the company and that the company is terminated; and (F) Perform other acts necessary or appropriate to the winding up. (c) If a dissolved limited liability company has no members, the legal representative of the last person to have been a member may wind up the activities and affairs of the company. If the person does so, the person shall have the powers of a sole manager under § 29-804.07(c) and shall be deemed to be a manager for the purposes of § 29-803.04(a)(2). (d) If the legal representative under subsection (c) of this section declines or fails to wind up the company’s activities and affairs, a person may be appointed to do so by the consent of transferees owning a majority of the rights to receive distributions as transferees at the time the consent is to be effective. A person appointed under this subsection: (1) Has the powers of a sole manager under § 29-804.07(c) and shall be deemed to be a manager for the purposes of § 29-803.04(a)(2); and (2) Shall promptly deliver to the Mayor for filing an amendment to the company’s certificate of organization to: (A) State that the company has no members; (B) State that the person has been appointed pursuant to this subsection to wind up the company; and (C) Provide the street and mailing addresses of the person. (e) The Superior Court may order judicial supervision of the winding up of a dissolved limited liability company, including the appointment of a person to wind up the company’s activities and affairs: (1) On application of a member, if the applicant establishes good cause; (2) On the application of a transferee, if: (A) The company does not have any members; (B) The legal representative of the last person to have been a member declines or fails to wind up the company’s activities and affairs; and (C) Within a reasonable time following the dissolution a person has not been appointed pursuant to subsection (d) of this section; or (3) In connection with a proceeding under § 29-807.01(a)(4) or (5).