Code of Alabama - Title 10A: Alabama Business and Nonprofit Entities Code - Section 10A-5A-7.10 - Effect of reinstatement

Section 10A-5A-7.10 - Effect of reinstatement.

(a) Subject to subsection (b), upon reinstatement, the limited liability company shall be deemed for all purposes to have continued its activities and affairs as if dissolution had never occurred; and each right inuring to, and each debt, obligation, and liability incurred by, the limited liability company after the dissolution shall be determined as if the dissolution had never occurred.

(b) The rights of persons acting in reliance on the dissolution before those persons had notice of the reinstatement shall not be adversely affected by the reinstatement.

(Act 2014-144, p. 265, §1.)

Last modified: May 3, 2021