The court may extend this period

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It is important to know that the liquidation period of an LLC usually does not exceed 1 year. , but not more than six months. Will there be payments to LLC participants? Participants receive payments if the LLC has any property remaining upon liquidation after settlements with creditors and employees.

Such payments will take place in two stages: Distributed but unpaid profit is paid. If there is not enough money, it is paid in proportion to the share of ownership. If the participant has 30%, he will receive 30% of the property.

Distribution of property between LLC participants. The new zealand telegram number database principle of proportionality of ownership of shares also applies here. The conclusion on payments and distribution of property is made by the liquidation commission. The commission formalizes the conclusion either by a decision on distribution, or by an act on distribution, or by a protocol.

There is no single correct form, but any such document can be used to register the transfer of ownership of property. If we are talking about liquidation of an LLC with one founder, then the liquidator distributes the remaining property and money to him by his decision.

On the topic: Working capital: what is it? Types, formula and structure Drawing up minutes of the general meeting of participants The minutes must be drawn up in writing. Depending on the provisions of the company's Charter, it must be certified either by a notary or in another form.