1997 Regular Session

HOUSE BILL 309

CHAPTER NUMBER: 659 File Code: Corporations and Associations Crossfiled with: SENATE BILL 381
Sponsored By:
Delegates Frank and Gordon
Entitled:
Limited Liability Company Reform Act of 1997

Synopsis:

Altering the powers of a limited liability company and the requirement that the company be formed by two or more persons; repealing a requirement that the articles of organization contain the latest date on which the company is to dissolve; allowing specified persons to convert to a limited liability company; repealing limitations on the authority of a member of a limited liability company; providing that specified provisions of law relating to cessation of membership in a limited liability company apply unless otherwise noted; etc.

Legislative History

House Action
1/21
First Reading Economic Matters
Hearing 1/29 at 1:00 p.m.
3/4
Favorable with Amendments Report by Economic Matters
3/5
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/7
Third Reading Passed (127-1)
3/31
House Concur - Senate Amendments
Third Reading Passed (139-0)
Passed Enrolled
5/22
Signed by the Governor Chapter 659
Senate Action
3/10
First Reading Judicial Proceedings
4/3
Favorable with Amendments Report by Judicial Proceedings
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
4/4
Third Reading Passed with Amendments (47-0)
Sponsored by:
Delegate Robert L. Frank, District 11
Delegate Michael R. Gordon, District 17
Bill indexed under the following Subjects:
COMMERCE AND BUSINESS -see also- SMALL BUSINESS
FRAUD
LIABILITY -see also- GOOD SAMARITAN
PARTNERSHIPS
Bill affects the following Statutes:
Commercial Law
( 15-208 )
Corporations and Associations
( 4A-202 , 4A-203 , 4A-204 , 4A-211 , 4A-212 , 4A-213 , 4A-401 , 4A-402 , 4A-503 , 4A-504 , 4A-505 , 4A-506 , 4A-507 , 4A-507 , 4A-604 , 4A-606 , 4A-606.1 , 4A-901 , 4A-902 , 4A-904 , 4A-905 , 4A-906 , 4A-906 , 4A-907 , 4A-907 , 4A-908 , 4A-909 , 4A-909 , 4A-910 , 4A-910 , 4A-911 , 4A-912 , 4A-912 , 4A-913 , 4A-914 , 4A-915 , 4A-915 , 4A-916 , 4A-917 , 4A-918 , 4A-919 , 4A-920 , 4A-921 , 4A-922 , 10-101 , 10-101 )

Documents:

Bill Text:
First Reading (PDF), Third Reading (PDF), Enrolled (PDF)
Fiscal Note: Available (PDF)

Amendments:
House
Number: 063864/3 (PDF) Offered on: MARCH 5, 1997 at: 10:27 Status: Adopted
Senate
Number: 238746/1 (PDF) Offered on: APRIL 3, 1997 at: 11:59 Status: Adopted