Author: Admin-LLCLawMonitor

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Washington Court of Appeals Again

Washington Court of Appeals Again Rules on 2010 Change to LLC Act’s Three-Year Post-Dissolution Limitations Period For the second time this year the Washington Court of Appeals has ruled on the Washington LLC Act’s three-year post-dissolution statute of limitations. In both cases there was a dispute over whether a 2010 amendment to the LLC Act.

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Washington LLC Member’s Bankruptcy

Washington LLC Member’s Bankruptcy Filing Dissociates the Member and Precludes Its Standing to Maintain Derivative Suit in the Name of the LLC LLC businesses sometimes fail. When the failure is claimed to have resulted from mismanagement or self-dealing, the LLC’s minority members may want to bring a derivative suit against the manager for breach of.

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De Facto Dissolution of California LLC

De Facto Dissolution of California LLC Allows LLC’s Creditor to Reach Assets Distributed to Members An LLC sells its assets and distributes the proceeds to its members. It then goes out of business and leaves creditors holding the bag, unpaid. A creditor has a valid claim against the LLC, but can it assert its claim.

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NCCUSL Starts Work on a Uniform Series

NCCUSL Starts Work on a Uniform Series LLC Act – Many Questions Remain More and more states are embracing series LLCs. With Alabama’s authorization earlier this year, 12 states have now authorized series LLCs. But the states have adopted inconsistent approaches to many of the key aspects of series LLCs. The National Conference of Commissioners on Uniform State.

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Glitch in Maine LLC

Glitch in Maine LLC Act Prevents Administratively Dissolved LLC from Bringing Suit Administrative dissolution is an enforcement tool that many states use to ensure that LLCs pay their annual fees and file their annual reports. An LLC that fails to pay its annual fee or file its annual report is given notice of the dissolution..

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Change Is Coming

All good things must come to an end, including my time with Stoel Rives LLP. I joined this firm in 1980, and at the end of this month I’m retiring. I thank Stoel Rives and my colleagues for a truly wonderful 34 years, and now I’m looking forward to new adventures. I started this blog.

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