The District of Columbia Resolution of Meeting of LLC Members to Dissolve the Company refers to the formal process through which members of a Limited Liability Company (LLC) in the District of Columbia decide and approve the dissolution of the company. This resolution outlines the steps and procedures that need to be followed to properly dissolve the LLC in accordance with the laws and regulations of the District of Columbia. Keywords: District of Columbia, Resolution of Meeting, LLC Members, Dissolve Company. There are two main types of resolutions for the meeting of LLC members to dissolve the company in the District of Columbia: 1. Unanimous Resolution: This type of resolution requires that all members of the LLC agree to dissolve the company. It entails a meeting where all members are present, or provide written consent to the dissolution. Unanimous resolutions ensure that all LLC members are in agreement and there are no objections to dissolving the company. 2. Majority Resolution: In some cases, the LLC's operating agreement may stipulate that a majority vote of the LLC members is sufficient to dissolve the company. This type of resolution requires the support of the majority of the members who have voting rights, as specified by the operating agreement. The specific percentage or number of members needed for a majority vote is typically outlined in the LLC's governing documents. The District of Columbia Resolution of Meeting of LLC Members to Dissolve the Company typically includes the following key elements: 1. Meeting Details: Information about the date, time, and location of the meeting where the resolution will be discussed and voted upon. This may also include provisions for alternative methods of communication, such as video conference or email, if allowed by the operating agreement. 2. Purpose of the Meeting: A clear statement indicating that the purpose of the meeting is to discuss and vote on the dissolution of the LLC. 3. Dissolution Approval: The resolution should explicitly state whether a unanimous or majority vote is required for the dissolution to be approved. 4. Dissolution Effective Date: The specific date on which the dissolution will take effect, which may be the date of the meeting or a future predetermined date. 5. Winding up Affairs: Details outlining the process of winding up the LLC's affairs. This includes notifying creditors, settling outstanding liabilities, liquidating assets, distributing remaining funds to members, and complying with any other legal requirements. 6. Appointment of a Winding Up Representative: If necessary, the resolution may appoint one or more members or third-party individuals to oversee the winding up process and act as the LLC's representative in legal matters during the dissolution period. It is crucial to consult with an attorney or legal professional familiar with the laws and regulations of the District of Columbia when drafting or executing a Resolution of Meeting to Dissolve an LLC. This ensures compliance with all legal requirements and protects the interests of the LLC members throughout the dissolution process.
District of Columbia Resolution of Meeting of LLC Members to Dissolve the Company
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To dissolve your LLC in the District of Columbia, file Form DLC-8, Statement of Dissolution for Domestic Limited Liability Company with the District of Columbia Department of Consumer & Regulatory Affairs (DCRA). Feel free to draft your own articles, but do not handwrite on DCRA forms.
Close Your BusinessDissolve your business entity with the Corporations Division, (202) 442-4400, Option #5, 1100 4th Street, SW, 2nd Floor, Washington, DC 20024;Cancel your Basic Business License with the Business Licensing Division, (202) 442-4400, Option #4, 1100 4th Street, SW, 2nd Floor, Washington, DC 20024.More items...
How to Dissolve an LLCConfirm the Company Is in Good Standing.Hold a Vote to Dissolve the Business.File LLC Articles of Dissolution.Notify the Company's Stakeholders.Cancel Business Licenses and Permits.File the LLC's Final Payroll Taxes.Pay Final Sales Tax.File Final Income Tax Returns.More items...?
There is a $220 filing fee to dissolve your Limited Liability Company in the District of Columbia. You can pay an additional $50 expedite fee to have the form processed in three days. If you pay a $100 expedite fee, you can have the dissolution processed in one day.
How to Dissolve an LLCVote to Dissolve the LLC. Members who decide to dissolve the company are taking part in something called a voluntary dissolution.File Your Final Tax Return.File an Article of Dissolution.Settle Outstanding Debts.Distribute Assets.Conduct Other Wind Down Processes.
To dissolve an LLC in DC, simply follow these three steps: Follow the Operating Agreement. Close Your Business Tax Accounts....Step 1: Follow Your Washington D.C. LLC Operating Agreement.Step 2: Close Your Business Tax Accounts.Step 3: File Articles of Dissolution.
Its term is for a period of five years but can be dissolved by State Government(Governor) if it fails to perform it's duty properly or have abused the power given.
6 Steps to Dissolve a Corporation#1 Seek Approval from the Board of Directors and Shareholders. First, hold a meeting with the board of directors.#2 File Articles of Dissolution.#3 Finalize Taxes.#4 Notify Creditors.#5 Liquidate and Distribute Assets.#6 Wrap Up Operations.
Hold a board of directors meeting and formally move to dissolve your corporation. The resolution to dissolve must be agreed upon by a majority of the corporation's directors. Depending on your corporation's structure, you may then need to take the vote to your shareholders.
