← belizelaw.ai · International Limited Liability Companies, Cap. 270:01 · PART VII — Management, etc., of Companies

Dissolution

Cap. 270:01, s. 71 · Revised Edition 2020

(1) A limited liability company is dissolved and its affairs shall be wound up upon the happening of the first to occur of the following, (a) at the time or upon the occurrence of an event specified in writing in the (b) the written consent of all of the members entitled to vote thereon; (c) entry of a decree of judicial dissolution under section 73 of this Act; (d) administrative dissolution as determined by the Registrar under section 72 of this Act. (2) Unless otherwise provided in the operating agreement, an assignment of an interest in a limited liability company does not of itself dissolve the limited liability company. (3) Within one hundred and twenty days after any of the events specified in subsection (1)(a) to (c) of this section effecting the dissolution of the limited liability company occurs, the limited liability company shall file a written notice of dissolution and winding up with the Registrar signed on behalf of the limited liability company by a manager, if management of the limited liability company is vested in one or more managers, or by a member, if management of the limited liability company is reserved to the members. The notice of dissolution and winding up shall state all of the following, (a) the name of the limited liability company; 68 (b) the date of filing the initial articles of organisation; (c) the date of dissolution; (d) that the notice constitutes a notice of the dissolution of the limited liability company and the commencement of winding up of its business and affairs; (e) the reason for dissolution; and (f) a statement that the records and documents of the company shall be kept for a period of six years from the date of the notice, the location at which they will be kept and the person who shall have custody or access to such location.
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Dissolution — Cap. 270:01 s. 71 · Belize Law