1996 Regular Session

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