950 CMR, § 112.20 - Administrative Dissolution of a Limited Liability Company

(1) If a limited liability company has failed for two consecutive years to comply with the provisions of law requiring the filing of annual reports or if the Director is satisfied that the limited liability company has become inactive and its dissolution would be in the public interest, the Division may commence a proceeding to dissolve the limited liability company pursuant to M.G.L. c. 156C § 70.

(2) A limited liability company may be considered inactive and its dissolution in the public interest, if the limited liability company fails to appoint a resident agent within 60 days after notice from the Division to the limited liability company of the requirement to maintain a resident agent and office in the commonwealth.

(3) The Division shall give written notice to the limited liability company that one or more grounds exist for administrative dissolution. The notice shall be sent by mail postage prepaid to the office required to be maintained by M.G.L. c. 156C, § 5(1). If the limited liability company does not correct each ground for dissolution or demonstrate to the reasonable satisfaction of the Division that each ground does not exist within 90 days after the date of the notice, the Division shall administratively dissolve the limited liability company.

Notes

950 CMR, § 112.20