A series that has been dissolved may be reinstated upon compliance with the following conditions:
(a) the consent shall have been obtained from the members or other persons associated with the series entitled to consent at the time that is:
(1) required for reinstatement of the series under the limited liability company agreement; or
(2) if the limited liability company agreement does not state the consent required for reinstatement, sufficient for dissolution of the series under the limited liability company agreement; or
(3) if the limited liability company agreement neither states the consent required for reinstatement nor for dissolution, sufficient for dissolution of the series under this chapter;
(b) in the case of a written objection to reinstatement having been delivered to the series before or at the time of the consent required by subsection (a) by the members or other persons having authority under the limited liability company agreement to bring about or prevent dissolution of the series, those members or persons withdrawing that written objection effective at the time of the consent required by subsection (a); and
(c) In the case of a series dissolved in a judicial proceeding initiated by one or more of the members associated with the series, the consent of each of those members shall have been obtained and shall be included in the consent required by subsection (a)(1).
Structure Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 5A - Alabama Limited Liability Company Law of 2014.
Article 11 - Series Provisions.
Section 10A-5A-11.01 - Series of Assets.
Section 10A-5A-11.02 - Enforceability of Obligations and Expenses of Series Against Assets.
Section 10A-5A-11.03 - Assets of Series.
Section 10A-5A-11.04 - Statement of Limitation on Liabilities of Series.
Section 10A-5A-11.06 - Event Causing Dissociation of a Member Associated With a Series.
Section 10A-5A-11.07 - Effect of Person's Dissociation as a Member.
Section 10A-5A-11.08 - Dissolution and Winding Up of Series.
Section 10A-5A-11.09 - Event Requiring Dissolution.
Section 10A-5A-11.10 - Effect of Dissolution of Series.
Section 10A-5A-11.11 - Right to Wind Up Activities and Affairs of Series.
Section 10A-5A-11.12 - Known Claims Against Dissolved Series.
Section 10A-5A-11.13 - Other Claims Against Dissolved Series.
Section 10A-5A-11.14 - Application of Assets in Winding Up Series' Activities and Affairs.
Section 10A-5A-11.15 - Reinstatement After Dissolution of a Series.