Alabama § 10A-5A-7.03 - Right to Wind Up Activities and Affairs.
Full text of Alabama Code of Alabama § 10A-5A-7.03 — Right to Wind Up Activities and Affairs., with citation guidance and answers to common questions.
§ 10A-5A-7.03. Right to Wind Up Activities and Affairs.
(a) The person or persons designated in the limited liability company agreement to wind up the activities and affairs of the dissolved limited liability company shall wind up the activities and affairs of the limited liability company in accordance with Section 10A-5A-7.02. If no person or persons are designated in the limited liability company agreement to wind up the activities and affairs of the dissolved limited liability company, then the remaining members of the dissolved limited liability company shall wind up the activities and affairs of the limited liability company in accordance with Section 10A-5A-7.02. If no person or persons are designated in the limited liability company agreement to wind up the activities and affairs of the dissolved limited liability company and there are no remaining members of the dissolved limited liability company, then all of the holders of the transferable interests of the limited liability company, or their designee, shall wind up the activities and affairs of the limited liability company in accordance with Section 10A-5A-7.02.
(b) The designated court, and if none, the circuit court for the county in which the limited liability company’s principal office within this state is located, and if the limited liability company does not have a principal office within this state then the circuit court for the county in which the limited liability company’s most recent registered office is located, may order judicial supervision of the winding up of a dissolved limited liability company, including the appointment of a person to wind up the limited liability company’s activities and affairs:
(1) on application of a member, if the applicant establishes good cause;
(2) on application of a transferee, if:
(A) the limited liability company does not have any members; and
(B) within a reasonable time following the dissolution, no person having the authority to wind up the activities and affairs of the limited liability company pursuant to subsection (a) is winding up the activities and affairs of the limited liability company; or
(3) in connection with a proceeding under Section 10A-5A-7.01(d).
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 10A-5A-7.03
What does Code of Alabama § 10A-5A-7.03 cover?
Section 10A-5A-7.03 ("Right to Wind Up Activities and Affairs.") 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-5A-7.03?
A common citation format is "Code of Alabama § 10A-5A-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-5A-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.