(1) A dissolved limited liability company continues its existence but may not carry on any business except that appropriate to wind up and liquidate its business and affairs, including:
(a) Collecting its assets.
(b) Disposing of its properties that will not be distributed in kind to its members.
(c) Discharging or making provision for discharging its liabilities.
(d) Distributing its assets in accordance with s. 608.444.
(e) Doing every other act necessary to wind up and liquidate its business and affairs.
(2) Dissolution of a limited liability company does not:
(a) Transfer title to the limited liability company 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.
(d) Terminate the authority of the registered agent of the limited liability company.
(3) The name of the dissolved limited liability company shall not be available for assumption or use by another limited liability company until 120 days after the effective date of dissolution.