§450

Laws § 450.1345(1) and (2). We thus find that, before July 13, CSTC and petitioner had distributed and/or determined to distribute over $10 million out of the corporation. Moreover, we consider it highly improbable that petitioner and his two brothers would have emptied CSTC of its working capital if the transaction had even a small risk of not consumma

See Rule 60(c); see also NT, Inc.

450.1833 (LexisNexis 2014) (providing that dissolved corporations shall continue in existence for the purpose ofwinding up). Reviewing courts generally allow a reasonable period. See, e.g., Flint Cold Storage v. Dep't ofTreasury, 776 N.W.2d 387, 395-396 (Mich. Ct. App. 2009). - 6 - [*6] cute the case establishes that this litigation cannot pr

450.4901(2) (LexisNexis 2014). According to the LLC Act, the members ofa PLC are to manage the PLC's business unless the PLC's articles oforganization state otherwise. IA sec. 450.4401. Petitioners failed to place the HDP operating agreement into the record or otherwise to establish that the HDP principals managed HDP differentlythan would be

450.1834 (e) (Lexis-Nexis 1973); see also id. sec. 450.1833; Freeman v. Hi Temp Prods., 580 N.W.2d 918, 921 (Mich. Ct. App. 1998). - 22 - OPINION I. Fraud This case hinges on whether Barrow committed fraud. On this question hangs the Commissioner's ability to redetermine Barrow's and BACO's deficiencies for 1984-89, because the Commissioner g

ed a voluntary petition for appointment of a conservator. Decedent's initial conservator resigned in 1993 and was replaced by Boatmen's Bank of Iowa, N.A. Decedent remained a ward of the conservatorship for the remainder of her life. 5 See Iowa Code sec. 450.37 (1998 & Supp. 2005). The basis on which to value the bank stock for purposes of this bequest was not addressed in the will. 6 The price at which Rod and his family members were entitled to purchase the residual balance of the back stock w

450.1833 (West 1970); cf. United States v. Adams Bldg. Co., 531 F.2d 342 (6th Cir. 1976). However, upon the P.C.'s dissolution, the Board of Directors (i.e., Mr. Souris) resolved that Mr. Souris would be the successor plan sponsor of the P.C.'s "Employees' Pension Plan". Moreover, as indicated by the caption itself in this case, Mr. Souris ind