{"id":2101,"date":"2023-03-05T21:55:03","date_gmt":"2023-03-06T02:55:03","guid":{"rendered":"https:\/\/businesslaw.hpindiana.law\/blog\/?p=2101"},"modified":"2023-11-28T13:41:57","modified_gmt":"2023-11-28T18:41:57","slug":"what-to-do-with-an-llc-with-no-members","status":"publish","type":"post","link":"https:\/\/www.hpindiana.law\/business-blog\/what-to-do-with-an-llc-with-no-members\/","title":{"rendered":"What to Do with an LLC with No Members"},"content":{"rendered":"<p><a href=\"https:\/\/www.hpindiana.law\/business-blog\/wp-content\/uploads\/2023\/03\/iStock-1288715721.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-2109 alignright\" src=\"https:\/\/www.hpindiana.law\/business-blog\/wp-content\/uploads\/2023\/03\/iStock-1288715721-300x181.jpg\" alt=\"iStock-1288715721-300x181\" width=\"300\" height=\"181\" srcset=\"https:\/\/www.hpindiana.law\/business-blog\/wp-content\/uploads\/2023\/03\/iStock-1288715721-300x181.jpg 300w, https:\/\/www.hpindiana.law\/business-blog\/wp-content\/uploads\/2023\/03\/iStock-1288715721-199x120.jpg 199w, https:\/\/www.hpindiana.law\/business-blog\/wp-content\/uploads\/2023\/03\/iStock-1288715721.jpg 761w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a>Generally, an Indiana limited liability company that has no members is dissolved. <a href=\"https:\/\/iga.in.gov\/legislative\/laws\/2022\/ic\/titles\/023#23-18-9-1.1\" target=\"_blank\" rel=\"noopener\">Ind. Code \u00a7 23-18-9-1.1(c)<\/a>. (For an interesting case from Alabama involving the dissolution of an LLC for lack of members, see our Indiana Law Blog article, <a href=\"https:\/\/www.hpindiana.law\/blog\/family-businesses-succession-planning-for-llcs\/\" target=\"_blank\" rel=\"noopener\">Family Businesses:\u00a0 Succession Planning for LLCs<\/a>.) Although that provision is in the chapter entitled \u201cVoluntary Dissolution,\u201d it is really not voluntary at all. It is really a statutory dissolution that occurs automatically, and it can be triggered by several different events that result in the dissociation of a sole, or last remaining, member.<\/p>\n<p>There are, however, two exceptions to the statutory dissolution of an LLC with no members. First, the LLC will not be dissolved if the operating agreement provides specifically for the admission of a member after the dissociation of a sole or last remaining member, and a member is actually admitted under that provision within 90 days of the first date the LLC had no members. In our experience, very few operating agreements contain such a provision.<\/p>\n<p>The second exception applies if the reason the LLC has no members is the death of the sole or last remaining member.\u00a0 In that case, the LLC is not dissolved if the operating agreement provides for the member&#8217;s personal representative, or the personal representative&#8217;s designee, to be admitted as a member and that person is admitted within 90 days of the member&#8217;s death.\u00a0 See <a href=\"https:\/\/iga.in.gov\/legislative\/laws\/2022\/ic\/titles\/023#23-18-6-5\" target=\"_blank\" rel=\"noopener\">Ind. Code 23-18-6-5(a)(4).<\/a>\u00a0 Again, it is safe to say that few operating agreements have such provisions.\u00a0 Moreover, even if one exists, there is a significant possibility that no member will be appointed before the 90 day window closes.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.hpindiana.law\/business-blog\/what-to-do-with-an-llc-with-no-members\/\"  title=\"Continue Reading What to Do with an LLC with No Members\" class=\"more-link\">Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Generally, an Indiana limited liability company that has no members is dissolved. Ind. Code \u00a7 23-18-9-1.1(c). (For an interesting case from Alabama involving the dissolution of an LLC for lack of members, see our Indiana Law Blog article, Family Businesses:\u00a0 Succession Planning for LLCs.) Although that provision is in the chapter entitled \u201cVoluntary Dissolution,\u201d it [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":2112,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[35,43,44,50],"class_list":["post-2101","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-limited-liability-companies","tag-dissolution","tag-liquidation","tag-llc","tag-no-members"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What to Do with an LLC with No Members &#8212; Indiana Business Law Blog &#8212; March 5, 2023<\/title>\n<meta name=\"description\" content=\"Generally, an Indiana limited liability company that has no members is dissolved. Ind. Code \u00a7 23-18-9-1.1(c). (For an interesting case from Alabama &#8212; March 5, 2023\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.hpindiana.law\/business-blog\/what-to-do-with-an-llc-with-no-members\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Michael R. Smith\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"What to Do with an LLC with No Members &#8212; Indiana Business Law Blog &#8212; March 5, 2023","description":"Generally, an Indiana limited liability company that has no members is dissolved. Ind. Code \u00a7 23-18-9-1.1(c). (For an interesting case from Alabama &#8212; March 5, 2023","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.hpindiana.law\/business-blog\/what-to-do-with-an-llc-with-no-members\/","twitter_misc":{"Written by":"Michael R. Smith","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.hpindiana.law\/business-blog\/what-to-do-with-an-llc-with-no-members\/#article","isPartOf":{"@id":"https:\/\/www.hpindiana.law\/business-blog\/what-to-do-with-an-llc-with-no-members\/"},"author":{"name":"Michael R. 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