News & Analysis as of

Limited Liability Company (LLC) Insurance Industry

Mintz - Securities & Capital Markets...

New for 2024: Compliance with the Corporate Transparency Act Necessary for Many Mintz Clients

Reporting requirements under the Corporate Transparency Act (CTA) are in effect beginning January 1, 2024. Under the CTA, many US entities will be required to provide the personal information of their beneficial owners to the...more

Mintz Edge

FinCen Publishes Final Rule on Beneficial Ownership Requirements - a Critical Step Towards Heightened Transparency in U.S....

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On January 1, 2021, Congress passed the Corporate Transparency Act (“CTA” or the “Act”) to “better enable critical national security, intelligence and law enforcement efforts to counter money laundering, financing of...more

Bradley Arant Boult Cummings LLP

FinCEN Issues Final Rule Requiring Private Companies to Report Ownership

On September 29, 2022, the United States Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule requiring millions of private companies to report their ownership to the United States...more

Conyers

Rated Note Feeders and the Cayman Islands

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The ongoing convergence of the private equity and insurance sectors has recently led private equity managers to innovate in their investment structures offered to investors – and in particular to insurers. From a Cayman...more

Conyers

Conyers Coverage July 2022 – Issue 7 – Cayman Islands

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We are pleased to bring you the summer 2022 edition of Conyers Coverage, the Cayman Islands insurance newsletter. The Cayman Islands insurance and reinsurance industry has had a strong start to the year and Conyers is...more

Foley & Lardner LLP

Supplier Alert: Key Changes in Stellantis/FCA New Terms and Conditions

Foley & Lardner LLP on

FCA US LLC and Stellantis N.V. (“FCA”) issued new purchase order terms and conditions, including Global Terms and Conditions – Direct Materials (Common to all regions) and a North America Exhibit A to Global General Terms and...more

Wiley Rein LLP

Insured Versus Insured Exclusion Does Not Bar Coverage for Claims Brought by Member of Insured LLC

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Applying Washington law, a federal district court has held that an insured versus insured exclusion does not bar coverage for claims asserted by a member of an insured limited liability company. Starr Indem. & Liab. Co. v....more

Mitchell, Williams, Selig, Gates & Woodyard,...

Voluntarily Dissolved Business Entities/Environmental Claims: Oregon Legislation Revises Time Limitations to Pursue Insurance...

The Oregon Legislature enacted legislation that would allow the pursuit of claims against insurance policies of dissolved corporations or limited liability companies for a time period beyond time limitations that otherwise...more

Patton Sullivan Brodehl LLP

Title Insurance Booby Traps in the LLC Jungle

Title insurance is inexpensive for a reason - Unlike other insurance policies, it is not prospective in nature.  It does not cover title defects or liens that come into being after the effective date of the policy. ...more

Jones Day

New Insurance Risks for Directors & Officers in Germany

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The Situation: Claims brought by insolvency administrators under Section 64 of the German Limited Liability Companies Act are not only among the most common, but also the most financially significant, claims faced by the...more

Butler Weihmuller Katz Craig LLP

Federal Diversity Jurisdiction: Proving Citizenship of Limited Liability Companies

Jurisdiction gives a federal court the power to hear a case. Jurisdiction matters at the outset of a lawsuit. It matters during discovery. It even matters after summary judgment. Jurisdiction matters because federal courts...more

Morrison & Foerster LLP

MoFo New York Tax Insights - Volume 7, Issue 7

ALJ holds NYS Real Estate Transfer Tax Cannot Be Imposed on Sale of 45% Membership Interest in LLC - In an issue of first impression under the New York State real estate transfer tax, a New York State Administrative Law...more

Carlton Fields

Variable Annuity with a No-lose Death Benefit Is Not Subject to the Statutory and Common Law Insurable Interest Requirement -...

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Western Reserve Life Assurance Co. of Ohio v. ADM Associates, LLC, 116 A.3d 794 (R.I. 2015) - Case at a Glance - In a case of first impression, the Rhode Island Supreme Court held that a particular variable annuity...more

Carlton Fields

Playing With Fire: No Liability Coverage For Tax Preparers Who Took Deductions for Illegal Tax Shelters

Carlton Fields on

“Gimme Shelter” is one of the greatest of a lot of great Rolling Stones songs (made greater by Merry Clayton’s gut-wrenching contribution). And, of course, “Gimme Shelter” is a cliché often trotted out in discussions of tax...more

Carlton Fields

Montana Law Revised To Allow Captives To Organize As Limited Liability Companies

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On April 28, 2015, Montana Governor Steve Bullock signed into law amendments to Montana’s law regarding captive insurers. Significantly, the amendments make it possible for public entities in Montana to set up captives....more

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