(a) Subject to subsection (b), upon reinstatement, a series shall be deemed for all purposes to have continued its activities and affairs as if dissolution had never occurred; each right inuring to, and each debt, obligation, and liability incurred by, the series after the dissolution shall be determined as if the dissolution had never occurred.
(b) The rights of persons acting in reliance on the dissolution of the series before those persons had notice of the reinstatement shall not be adversely affected by the reinstatement.
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.