{"data":{"id":"us-vt/11-v.s.a.-4101","jurisdiction":"us-vt","citation":"11 V.S.A. § 4101","heading":"Events causing dissolution and winding up of company business","body":"(a) A limited liability company is dissolved, and its business shall be wound up, upon the occurrence of any of the following events:\n(1) an event or circumstance that the operating agreement states causes dissolution;\n(2) consent of the number or percentage of members specified in the operating agreement, or in the absence of a provision governing approval of a dissolution or winding up of the company contained in an operating agreement, the consent of all the members;\n(3) the passage of 90 consecutive days during which the company has no members;\n(4) on application by a member, the entry by the Superior Court of an order dissolving the company on the grounds that:\n(A) the conduct of all or substantially all of the company’s activities is unlawful; or\n(B) it is not reasonably practicable to carry on the company’s activities in conformance with the certificate of organization and the operating agreement; or\n(5) on application by a member, the entry by the Superior Court of an order dissolving the company on the grounds that the managers or those members in control of the company:\n(A) have acted, are acting, or will act in a manner that is illegal or fraudulent; or\n(B) have acted or are acting in a manner that is oppressive and was, is, or will be directly harmful to the applicant.\n(b) In an action brought under subdivision (a)(5) of this section, the Court may order a remedy other than dissolution.","path":["Title 11: Corporations, Partnerships and Associations","Chapter 025: Limited Liability Companies","Subchapter 007: WINDING UP OF COMPANY BUSINESS"],"source_url":"https://legislature.vermont.gov/statutes/section/11/025/04101","current_through":"2025 session","vintage":"","retrieved_at":"2026-09-05T16:01:21Z","sha256":"86c06036846b834a9794f1d0d9cabd0f40f9ed852f24e2014a52d0a8e09b920f","source_id":"us-vt","stale":false,"prev":"us-vt/11-v.s.a.-4083","next":"us-vt/11-v.s.a.-4102"},"notice":"GroundRules: Original legal text. Not legal advice."}