Calif. Corporations Code §17707.01 and 17707.02
Amended by A.B. 1722
Effective: January 1, 2017
A limited liability company (LLC) may now be dissolved by a vote of 50 percent or more of the voting interests of the LLC members.
Previously, dissolution required a majority of members — with voting interests or otherwise — to approve dissolution.
A certificate of cancellation of the articles of incorporation by a domestic LLC which has never conducted business may now be effected by the signature of 50 percent or more of the:
- voting interests of members;
- the voting interests of managers, if the LLC has no members; or
- individuals who signed the articles of organization, if the LLC has no members or managers.