15 Pennsylvania Consolidated Statutes § 8976 - Effect Of Filing Certificate Of Dissolution

§ 8976. Effect of filing certificate of dissolution.

(a) General rule.--Upon the filing of a certificate of dissolution, the existence of the limited liability company shall cease, except for the purpose of legal actions, other proceedings and appropriate action as provided in this chapter.

(b) Postfiling administration.--The manager or managers in office at the time of dissolution or the survivors of them or, if management of the company is retained by the members, then all members shall thereafter be trustees for the members and creditors of the dissolved company and as such shall have authority to distribute any company property discovered after dissolution, convey real estate and take such other action as may be necessary on behalf of and in the name of such dissolved company.

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Last modified: October 8, 2016