(a) Subject to subsection (b), upon reinstatement, the limited liability company shall be deemed for all purposes to have continued its activities and affairs as if dissolution had never occurred; and each right inuring to, and each debt, obligation, and liability incurred by, the limited liability company after the dissolution shall be determined as if the dissolution had never occurred.
(b) The rights of persons acting in reliance on the dissolution 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 7 - Dissolution, Winding Up, and Reinstatement.
Section 10A-5A-7.01 - Events of Dissolution.
Section 10A-5A-7.02 - Effect of Dissolution.
Section 10A-5A-7.03 - Right to Wind Up Activities and Affairs.
Section 10A-5A-7.04 - Known Claims Against Dissolved Limited Liability Company.
Section 10A-5A-7.05 - Other Claims Against Dissolved Limited Liability Company.
Section 10A-5A-7.07 - Reinstatement After Dissolution.
Section 10A-5A-7.08 - Certificate of Reinstatement.
Section 10A-5A-7.09 - Limited Liability Company Name Upon Reinstatement.