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Amundsen Davis LLC

Opt In/Out Deadline for New Wisconsin LLC Law is December 31, 2022

Amundsen Davis LLC on

On January 1, 2023, Wisconsin’s new limited liability company (LLC) law goes into effect. The Wisconsin Uniform Limited Liability Company Law (WULLCL), created by 2021 Wis. Act 258 and signed by Governor Tony Evers on April...more

Hicks Johnson

The Importance of “Plain and Unambiguous Language” When Eliminating Fiduciary Duties in Delaware

Hicks Johnson on

The Delaware Limited Liability Company Act allows for the fiduciary duties of a member to be expanded, restricted, or eliminated by provisions in the operating agreement of a limited liability company (“LLC”). If drafters...more

Polsinelli

Member of an Arizona LLC? You May Have a Fiduciary Duty to the LLC

Polsinelli on

Arizona has finally resolved the issue of whether managers and members of an Arizona Limited Liability Company (LLC) owe a common law fiduciary duty to the LLC and whether an operating agreement can lawfully limit those...more

Patton Sullivan Brodehl LLP

Seven Critical Mistakes LLCs Make, and LLC Manager Power Issues

The “Seven Critical Mistakes LLCs Make” Series - This series of posts covers some of the most serious mistakes that LLCs regularly make. Here are...short summaries of each: Choosing the Wrong Business Partners —...more

Fox Rothschild LLP

Fiduciary Duties After Pennsylvania’s Act 170

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As was alluded to in a prior blog post, one of the major changes that has been enacted through Pennsylvania’s Act 170 is the ability, through the operating agreement, to contractually vary fiduciary duties of members and...more

Akerman LLP

2015 Legislative Changes to Florida's Limited Liability Company Act

Akerman LLP on

During the 2015 legislative session, the Florida legislature adopted amendments to Chapter 605 of the Florida Statutes. Chapter 605 is the Florida Revised Limited Liability Company Act (Florida Revised LLC Act). The bill...more

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