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§ 31b-8-802 — West Virginia Law | CourtGPT
  1. Home/
  2. Laws/
  3. West Virginia/
  4. Chapter 31b - Uniform Limited Liability Company Act/
  5. Article 8 - Winding Up Company's Business§31b-8-801. Events Causing Dissolution and Winding Up of Company's Business/
  6. § 31b-8-802
West Virginia Legal Code

§ 31b-8-802

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(a) Subject to subsection (b) of this section, a limited liability company continues after dissolution only for the purpose of winding up its business.(b) At any time after the dissolution of a limited liability company and before the winding up of its business is completed, the members, including a dissociated member whose dissociation caused the dissolution, may unanimously waive the right to have the company's business wound up and the company terminated. In that case:(1) The limited liability company resumes carrying on its business as if dissolution had never occurred and any liability incurred by the company or a member after the dissolution and before the waiver is determined as if the dissolution had never occurred; and(2) The rights of a third party accruing under section 8-804(a) or arising out of conduct in reliance on the dissolution before the third party knew or received a notification of the waiver are not adversely affected.