Statutory Conversions

NORTON V. K-SEA–A DELAWARE LIMITED PARTNERSHIP CASE RELEVANT TO LLC PRACTICE NATIONALLY

Because of the prestige of the Delaware courts and the pervasive influence of the Delaware Limited Liability Company Act on the drafting of non-Delaware LLC acts, any competent LLC lawyer must follow on a current basis significant Delaware decisions affecting LLC practice.  These include decisions concerning other Delaware “alternate entities,” such as limited partnerships. An […]

STATUTORY CONVERSIONS

Because LLCs provide statutory charging order and pick-your-partner protections and corporations don’t, it often makes sense for business asset protection purposes (and sometimes also, as in New Hampshire, for state tax purposes) to convert corporations to LLCs.  The easiest way to accomplish these conversions is under statutory conversion provisions in corporate and LLC acts.  My […]