Effect of dissolution

Effect of dissolution. — (1) Dissolution of a limited liability company does not: (a) Transfer title to the limited liability company’s assets; (b) Prevent commencement of a proceeding by or against the limited liability company in its name; (c) Abate or suspend a proceeding pending by or against the limited liability company on the effective date of dissolution; or (d) Terminate the authority of the registered agent of the limited liability company. (2) Except as provided in s. 605.0715 (5), the name of the dissolved limited liability company is not available for assumption or use by another business entity until 120 days after the effective date of dissolution or filing of a statement of termination, if earlier.