SENATE BILL 745

File Code: Corporations and Associations Crossfiled with: HOUSE BILL 1306

Sponsored By:

Senator Pica

Entitled:

Limited Liability Company Reform Act of 1996

Synopsis:

Altering the requirement that a limited liability company be formed by two or more persons by allowing formation by any person; allowing a limited liability company to continue to carry on its business following dissolution if there is at least one remaining member and the remaining member consents; clarifying the manner of determining the fair market value of a person's interest in a limited liability company when the limited liability company is dissolved; repealing specified provisions; etc.

Legislative History

Senate Action

2/14

First Reading Senate Rules

3/8

Re-referred Judicial Proceedings

3/15

Hearing 3/19 at 1:00 p.m.

House Action

No Action

Bill indexed under the following Subjects:

COMMERCE AND BUSINESS -see also- SMALL BUSINESS

EXCISE TAX

INCOME TAX

LIABILITY -see also- GOOD SAMARITAN

MOTOR VEHICLES - GENERAL -see also- ABANDONED VEHICLES

Bill affects the following Statutes:

Corporations and Associations

( 4A-101 , 4A-202 , 4A-301 , 4A-301.1 , 4A-401 , 4A-603 , 4A-904 , 4A-905 )

Tax - General

( 10-819 )

Transportation

( 13-810 )

Documents:

Bill Text:

First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None available