This bill, titled "Avoidance of dissolution by buyout," seeks to amend the Rhode Island Limited-Liability Company Act by adding a new section. The new section allows members of a limited-liability company (LLC) to avoid dissolution if one or more members file a petition for dissolution. The other members can avoid dissolution by filing an election to purchase the membership interest owned by the petitioner at a fair market value. If the parties cannot agree on the fair market value, the court will determine the value and other terms and conditions of the sale. The petitioner's rights as the owner of the membership interest will terminate upon filing the election to purchase, and the petitioner is entitled to interest on the purchase price. Once the purchase price is fully paid, the petitioner must transfer the membership interest to the purchasers. The bill would take effect upon passage.