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Results: 1-10 of 90

Creditors of Colorado LLC have no standing to sue members who received unlawful distribution

  • Stoel Rives LLP
  • -
  • USA
  • -
  • June 21 2013

The Colorado LLC Act prohibits an insolvent LLC from making a distribution to a member. Insolvency is defined as the LLC's liabilities exceeding its

Oregon becomes the second state to authorize benefit LLCs

  • Stoel Rives LLP
  • -
  • USA
  • -
  • June 7 2013

This week Oregon became only the second state to authorize benefit LLCs, when Governor Kitzhaber signed House Bill 2296. Over a dozen states have

Florida adopts revised Limited Liability Company Act

  • Stoel Rives LLP
  • -
  • USA
  • -
  • June 4 2013

The Florida Legislature recently passed unanimously a new limited liability company statute (the New Act), and Governor Scott is expected to sign the

Delaware Supreme Court affirms reformation of LLC agreements but reverses award of attorneys' fees - law firm was working for free

  • Stoel Rives LLP
  • -
  • USA
  • -
  • May 13 2013

Last year the Delaware Court of Chancery reformed the cash distribution waterfall provisions of three real estate joint venture LLC agreements

Ohio upholds charging order on medical LLC

  • Stoel Rives LLP
  • -
  • USA
  • -
  • May 3 2013

LLCs have become the entity of choice for most new businesses, and as a result charging orders are being sought more and more frequently. A novel

Montana becomes tenth state to authorize series LLCs

  • Stoel Rives LLP
  • -
  • USA
  • -
  • April 26 2013

Two weeks ago Montana joined the nine other states that have authorized series LLCs. Montana Governor Steve Bullock signed House Bill 362 on April 12

Virginia amendment to LLC statute overturns Ott v. Monroe

  • Stoel Rives LLP
  • -
  • USA
  • -
  • April 22 2013

In 2011 Ott v. Monroe threw a monkey wrench into the transferability of Virginia LLC member control interests. The Virginia Supreme Court ruled that

Uncertainty over Delaware LLC fiduciary duties to be clarified

  • Stoel Rives LLP
  • -
  • USA
  • -
  • April 16 2013

Last fall the Delaware Supreme Court surprised many corporate lawyers when it declared that whether the Delaware LLC Act imposes fiduciary duties on

Maryland resists piercing LLC veil

  • Stoel Rives LLP
  • -
  • USA
  • -
  • April 8 2013

Veil-piercing law varies widely from state to state, and a recent Maryland case is an example of the member-protective end of the spectrum. Its

New York court says de facto merger rule not applicable when LLC transfers business to an individual

  • Stoel Rives LLP
  • -
  • USA
  • -
  • March 22 2013

New York's Appellate Division recently had to decide whether the "de facto merger" doctrine applied when an LLC transferred its business to a sole