6.30.500 Dissolution by Judicial Decree.
(1) In a proceeding by or for an owner, the Tribal Court or court of competent jurisdiction may order dissolution of a limited liability company if any of the following is established:
(a) That it is not reasonably practicable to carry on the business of the limited liability company.
(b) That the limited liability company is not acting in conformity with its operating agreement.
(c) That one or more managers are acting or will act in a manner that is illegal, oppressive, or fraudulent.
(d) That one or more owners in control of the limited liability company are acting or will act in a manner that is illegal, oppressive or fraudulent.
(e) That limited liability company assets are being misapplied or wasted.
(2) If the Tribe is an owner of the limited liability company, any action under this section must be brought in the Tribal Court, unless explicitly otherwise provided in the operating agreement. Nothing in this section may be construed as a waiver of the Tribe’s sovereign immunity from suit, and any waiver thereof must be provided explicitly in the limited liability company’s operating agreement. [Res. 2023-10-019 § 1, 2023.]