CA AB1802

Amends Sections 17707.06 and 17707.08 of the Corporations Code regarding limited liability company dissolution and winding up procedures.

Requires omitted assets from winding up to first discharge any unsatisfied liabilities known to the company, with any excess distributed to members.

Authorizes any person authorized to wind up a canceled LLC's affairs to use inadvertently omitted assets to discharge liabilities and distribute remaining assets to members.

Corrects cross-references relating to dissolution, distribution, and winding up procedures for limited liability companies.

Approved by Governor June 21, 2022 and filed with Secretary of State the same date.