RULLCA

NEW LLC ACT IN CONNECTICUT

The post under the link below will be of particular importance to lawyers in Connecticut and elsewhere who form LLCs under Connecticut law and to lawyers interested in the Revised Uniform Limited Liability Company Act. Here is the link: http://www.lexology.com/library/detail.aspx?g=3b9e0dca-29a5-4b39-bcac-0774fa206fb0&l=7U9VCC2 Here is the first paragraph of the post: The Connecticut Uniform Limited Liability Company Act, […]

RULLCA

The link below provides basic information and section-by-section comments on the terms of the Revised Uniform LLC Act (“RULLCA”).  Other information about RULLCA can be found elsewhere in the Uniform Laws website.  16 states have adopted RULLCA, and three have pending bills that would adopt it.    The 16 states that have adopted it are, in […]

NORTH DAKOTA ADOPTS RULLCA

As noted in the link below, North Dakota has recently adopted the Revised Uniform LLC Act as its LLC act.  There are now roughly 10 states that have adopted RULLCA.  My view of RULLCA is that it has many excellent provisions, but also two significant flaws—the absence of a default rule governing allocations of profits […]

MEMBER EXPULSIONS UNDER RULLCA

In many operating agreements for multi-member LLCs, provisions providing for expulsions of members that engage in misconduct can be of critical importance.  The Revised Uniform Limited Liability Company Act (“RULLCA”) has been adopted by 14 states and is pending in three more states.  The excellent new post by Peter Mahler under the link below discusses […]

RULLCA UPDATE

Here is a link to an excellent CCH current update about the adoption of the Revised Limited Liability Company Act (“RULLCA”):   http://www.cunninghamonoperatingagreements.com/wp-content/uploads/RULLCA-CCH-ARTICLE-12-22-14.docx. According to the update, the following 12 U.S. jurisdictions, in alphabetical order, have adopted RULLCA:  Alabama, California, District of Columbia, Florida, Idaho, Iowa, Minnesota, Nebraska, New Jersey, South Carolina, Utah, and Wyoming.  At […]