This bill amends the procedure for the administrative dissolution of limited liability companies (LLCs) by the Secretary of State in West Virginia. It clarifies that if the Secretary of State identifies one or more grounds for dissolution, they must notify the company by certified mail with written notice of the determination. The bill also specifies that if the company fails to rectify the grounds for dissolution or demonstrate that they do not exist within 60 days of receiving the notice, the Secretary of State is required to sign and file a certificate of dissolution, which will include the grounds for dissolution and its effective date.

Additionally, the bill maintains that an administratively dissolved company continues to exist but is limited to activities necessary for winding up and liquidating its affairs, as well as notifying claimants. The authority of the company's agent for service of process remains intact despite the administrative dissolution. Overall, the bill aims to enhance the clarity and efficiency of the administrative dissolution process for LLCs in West Virginia.

Statutes affected:
Introduced Version: 31B-8-810