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Glossary of Legislative Terms

SB 1324: Limited Liability Companies

GENERAL BILL by Berman

Limited Liability Companies; Creating the "Uniform Protected Series Provisions"; providing that a protected series of a series limited liability company is a person distinct from certain other entities; authorizing series limited liability companies to establish protected series; providing requirements for becoming an associated member of a protected series; requiring that protected-series transferable interests be initially owned by an associated member or a series limited liability company; providing specifications for the dissolution of series limited liability companies, etc.

Effective Date: Except as otherwise expressly provided in this act and except for this section, which shall take effect upon this act becoming a law, this act shall take effect July 1, 2023
 Last Action: 5/5/2023 Senate - Died in Commerce and Tourism
Bill Text: Web Page | PDF
Senate Committee References:
  1. Commerce and Tourism (CM)
  2. Judiciary (JU)
  3. Fiscal Policy (FP)

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