Section 703. Winding up

(a)  In the event of a dissolution of a limited
  liability company, except for a dissolution pursuant  to  section  seven
  hundred  two of this article, unless otherwise provided in the operating
  agreement, the members may  wind  up  the  limited  liability  company's
  affairs. Upon cause shown, the supreme court in the judicial district in
  which the office of the limited liability company is located may wind up
  the  limited liability company's affairs upon application of any member,
  or his or her  legal  representative  or  assignee,  and  in  connection
  therewith may appoint a receiver or liquidating trustee.
    (b)  Upon  dissolution  of  a  limited  liability company, the persons
  winding up the limited liability company's affairs may, in the  name  of
  and  for  and  on behalf of the limited liability company, prosecute and
  defend suits, whether civil,  criminal  or  administrative,  settle  and
  close  the  limited  liability company's business, dispose of and convey
  the  limited  liability  company's  property,  discharge   the   limited
  liability  company's  liabilities  and  distribute  to  the  members any
  remaining assets of the limited liability company, all without affecting
  the liability of members including members participating in the  winding
  up of the limited liability company's affairs.