What is the Lifespan of an LLC?
Although many states now allow an LLC to have perpetual existence, LLCs were traditionally required to specify the date of the LLC’s termination. In most cases, unless otherwise provided in the LLC’s Articles of Organization or a written Operating Agreement, an LLC is dissolved at the death, withdrawal, resignation, expulsion, or bankruptcy of a member (unless a majority in both the profits and capital interests vote within 90 days of the incident to continue the LLC).
