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Legislation


2012 Regular Session

SENATE BILL 855

File Code: Corporations and Associations Crossfiled with: HOUSE BILL 777
Sponsored By:
Senator Raskin
Entitled:
Corporations and Associations - Limited Liability Act - Revisions

Synopsis:

Establishing that specified statutory provisions relating to limited liability companies apply unless otherwise agreed on in the limited liability company's articles of organization, in the operating agreement, or by unanimous consent; repealing the requirement that the purposes for which a limited liability company is formed be stated in the articles of organization; altering the requirements for a resident agent; repealing provisions relating to a member's authority regarding abandoning the business; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occurring in the Chambers otherwise Calendar date is used. For explanation of terms click here.
Senate Action
2/3
First Reading Judicial Proceedings
2/8
Hearing 3/8 at 1:00 p.m.
3/19
Favorable Report by Judicial Proceedings
3/16
Favorable Report Adopted
Second Reading Passed
3/18
Third Reading Passed (46-0)
4/2
Returned Passed
House Action
3/18
First Reading Economic Matters
4/5
Favorable Report by Economic Matters
3/31
Favorable Report Adopted
Second Reading Passed
4/2
Third Reading Passed (130-0)
Action after passage in Senate and House
5/22
Approved by the Governor
- Chapter 599

Bill indexed under the following Subjects:

Agents and Brokers
Bankruptcy
Foreclosure
Liens -see also- Mechanics' Liens
Limited Liability Companies
Mergers and Acquisitions
Notices
Partnerships
Privacy
Records -see also- Land Records; Vital Records
Security Interests -see also- Liens; Mechanics' Liens
Telecommunications and Information Technology
Trade Secrets
Voting -see also- Ballots; Elections

Bill affects the following Statutes:

Corporations and Associations
( 1-101 , 4A-101 , 4A-102 , 4A-203 , 4A-204 , 4A-209 , 4A-210 , 4A-211 , 4A-401 through 4A-403 , 4A-403.1 , 4A-403.2 , 4A-405 , 4A-406 , 4A-502 through 4A-505 , 4A-601 through 4A-601.1 , 4A-607 , 4A-701 , 4A-702 , 4A-704 through 4A-706 , 4A-709 , 4A-801 , 4A-802 , 4A-902 , 4A-904 , 4A-906 , 4A-918 , 4A-1103 , 4A-1104 )

Documents

All documents except Roll Call Votes are displayed in PDF format:
Bill Text: First Reading, Third Reading, Enrolled, Chapter
Fiscal and Policy Note: Available
Amendments: None offered
Committee Votes :
Senate
Judicial Proceedings
House
Economic Matters
Roll Call Votes (Legislative dates are shown):
Senate
March 18, 2012: Third Reading Passed (46-0)
House
April 2, 2012: Third Reading Passed (130-0)
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