A. After the dissolution of a limited liability company, its separate existence continues until any of the following occurs:<\/p>\n
1. Articles of termination are filed with the commission.<\/p>\n
2. A decree terminating the limited liability company is entered by a court of competent jurisdiction.<\/p>\n
3. The commission administratively dissolves the limited liability company.<\/p>\n
B. After its dissolution, until its separate existence terminates, a dissolved limited liability company shall not carry on any business except business that is necessary to wind up and liquidate its business and affairs, including any of the following:<\/p>\n
1. Collecting its assets.<\/p>\n
2. Disposing of its properties that will not be distributed in kind to its members.<\/p>\n
3. Discharging or making provisions for discharging its liabilities.<\/p>\n
4. Distributing its remaining property among its members according to the interests of the members.<\/p>\n
5. Doing all other acts required to liquidate its business and affairs.<\/p>\n