Alabama § 10A-5-7.03 - Winding Up. Repealed in the 2014 Regular Session by Act 2014-144 Effective January 1, 2017.
Full text of Alabama Code of Alabama § 10A-5-7.03 — Winding Up. Repealed in the 2014 Regular Session by Act 2014-144 Effective January 1, 2017., with citation guidance and answers to common questions.
§ 10A-5-7.03. Winding Up. Repealed in the 2014 Regular Session by Act 2014-144 Effective January 1, 2017.
(a) Except as otherwise provided in the governing documents, the members who have not wrongfully dissolved a limited liability company may wind up the limited liability company’s business and affairs.
(b) A person winding up a limited liability company’s business may: Preserve the company business or property as a going concern for a reasonable time; prosecute and defend actions and proceedings, whether civil, criminal, or administrative; settle and close the limited liability company’s business; dispose of and transfer property; discharge the limited liability company’s liabilities; distribute the assets of the limited liability company pursuant to Section 10A-5-7.05; and perform other necessary and appropriate acts.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 10A-5-7.03
What does Code of Alabama § 10A-5-7.03 cover?
Section 10A-5-7.03 ("Winding Up. Repealed in the 2014 Regular Session by Act 2014-144 Effective January 1, 2017.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 10A-5-7.03?
A common citation format is "Code of Alabama § 10A-5-7.03" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 10A-5-7.03 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.