Guam § 15128 - Reinstatement After Involuntary Dissolution.

§ 15128. Reinstatement After Involuntary Dissolution.

(a) Any limited liability company which has been dissolved

by the Department of Revenue and Taxation under the

provisions of § 15124 or prior law may be reinstated by the

Department of Revenue and Taxation at any time upon approval

of an application for reinstatement signed by an officer or

director of the dissolved limited liability company. Such

application shall be filed by the Department of Revenue and

Taxation whenever it is established to the satisfaction of the

Department that in fact there was no cause for the dissolution or

that the reasons for the dissolution have been corrected and all

fees, computed at the rate provided by law at the time the limited

liability company applies for reinstatement, have been paid. If

the name of the dissolved limited liability company has been

lawfully assumed in the state by another limited liability

company, the Department of Revenue and Taxation shall require

the dissolved limited liability company to amend its articles of

organization to change its application for reinstatement.

(b) Whenever the application for reinstatement is approved

and filed by the Department of Revenue and Taxation, the

existence of the limited liability company shall be deemed to

have continued without interruption from the date of dissolution.

The reinstatement shall have no effect upon any personal

liabilities of the members or managers of the limited liability

company on account of actions taken during the period between

dissolution and reinstatement, but the power of the limited

liability company to indemnify such members or managers shall

extend to actions during such period.