Sec. 1. (a) Unless otherwise provided in a written operating agreement, a limited liability company existing under this article on or before June 30, 1999, is governed by this section.

     (b) A limited liability company is dissolved and its affairs must be wound up on the first of the following to occur:

(1) At the time or on the occurrence of events specified in writing in the articles of organization or operating agreement.

(2) Written consent of all the members.

(3) Except as provided in IC 23-18-6-4(c), upon the death of the member of a limited liability company that had one (1) member, an event of dissociation occurs with respect to a member, unless the business of the limited liability company is continued by the consent of all the remaining members not more than ninety (90) days after the occurrence of the event or as otherwise provided in writing in the articles of organization or operating agreement.

(4) Entry of a decree of judicial dissolution under section 2 of this chapter.

As added by P.L.8-1993, SEC.301. Amended by P.L.269-1999, SEC.14; P.L.99-2024, SEC.5.