SB 861 Limited liability companies; business entities.
Walter A. Stosch | all patrons    ...    notes
| add to my profiles

Summary as passed: (all summaries)
Limited liability companies; business entities. Incorporates conforming provisions into the Limited Liability Company Act and analogous provisions of other business entity statutes to enable those entities to merge with business trusts. Other provisions (i) clarify the authority of limited liability companies to convert into stock corporations and vice versa, (ii) provide that when the operating agreement of a limited liability company contains an agreement among members that restricts their ability to pledge or transfer their ownership interests, they will be given effect as a matter of freedom of contract notwithstanding contrary provisions of the Uniform Commercial Code, and (iii) clarify who signs State Corporation Commission filings for limited liability companies that are formed without members.

Full text:
01/08/03  Senate: Presented & ordered printed, prefiled 01/07/03 036654540  pdf | impact statement
01/16/03  Senate: Printed as engrossed 036654540-E  pdf
02/24/03  Senate: Bill text as passed Senate and House (SB861ER)  pdf | impact statement
03/25/03  Governor: Acts of Assembly Chapter text (CHAP0340)  pdf

Amendments:
Senate amendments

Status:
01/08/03  Senate: Presented & ordered printed, prefiled 01/07/03 036654540
01/08/03  Senate: Referred to Committee on Commerce and Labor
01/13/03  Senate: Reported from C. & L. with amendments (15-Y 0-N)
01/15/03  Senate: Constitutional reading dispensed (40-Y 0-N)
01/15/03  Senate: VOTE: CONST. RDG. DISPENSED R (40-Y 0-N)
01/16/03  Senate: Read second time
01/16/03  Senate: Reading of amendments waived
01/16/03  Senate: Committee amendments agreed to
01/16/03  Senate: Engrossed by Senate as amended
01/16/03  Senate: Printed as engrossed 036654540-E
01/17/03  Senate: Read third time and passed Senate (38-Y 0-N)
01/17/03  Senate: VOTE: PASSAGE R (38-Y 0-N)
01/17/03  Senate: Rec. of passage agreed to by Senate (39-Y 0-N)
01/17/03  Senate: VOTE: RECONSIDER R (39-Y 0-N)
01/17/03  Senate: Passed Senate (39-Y 0-N)
01/17/03  Senate: VOTE: PASSAGE R (39-Y 0-N)
01/17/03  Senate: Communicated to House
01/23/03  House: Placed on Calendar
01/23/03  House: Read first time
01/23/03  House: Referred to Committee on Commerce and Labor
02/11/03  House: Reported from Commerce and Labor (21-Y 0-N)
02/13/03  House: Read second time
02/14/03  House: Read third time
02/14/03  House: Passed House BLOCK VOTE (99-Y 0-N)
02/14/03  House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
02/24/03  Senate: Bill text as passed Senate and House (SB861ER)
02/26/03  House: Enrolled
02/26/03  House: Signed by Speaker
02/27/03  Senate: Signed by President
03/16/03  Governor: Approved by Governor-Chapter 340 (effective-see bill)
03/25/03  Governor: Acts of Assembly Chapter text (CHAP0340)