SENATE BILL 381

File Code: Corporations and Associations Crossfiled with: HOUSE BILL 309

Sponsored By:

Senators Baker and Hogan

Entitled:

Limited Liability Company Reform Act of 1997

Synopsis:

Altering the requirement that a limited liability company be formed by two or more persons by allowing formation by any person; altering the powers of a limited liability company; repealing a requirement that the articles of organization of a limited liability company contain the latest date on which the limited liability company is to dissolve; allowing a general partnership or a limited partnership to convert to a limited liability company; repealing limitations on the authority of a member of a limited liability company; etc.

Legislative History

Senate Action

1/27

First Reading Judicial Proceedings

2/5

Hearing 2/27 at 1:00 p.m.

House Action

No Action

Sponsored by:

Senator Walter M. Baker, District 36

Senator Patrick J. Hogan, District 39

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-401 , 4A-402 , 4A-503 , 4A-504 , 4A-505 , 4A-506 , 4A-507 , 4A-507 , 4A-604 , 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, Enrolled

Fiscal Note: Available (PDF)