News & Analysis as of

Limited Liability Company (LLC) Amended Rules

Hinshaw & Culbertson LLP

SEC Updates Definition of Accredited Investor to Facilitate More Participation in Private Offerings

For the first time since 2011, the Securities and Exchange Commission (SEC) has amended the definition of "accredited investors" under Rule 501(a) of Regulation D, promulgated under the Securities Act of 1933, as amended....more

Dorsey & Whitney LLP

SEC Updates Accredited Investor and Qualified Institutional Investor Definitions

Dorsey & Whitney LLP on

On August 26, 2020, the Securities and Exchange Commission (the “Commission”) adopted amendments to update the definition of “accredited investor” in the Commission’s rules governing certain kinds of private securities...more

Eversheds Sutherland (US) LLP

Expansion of the pool of accredited investors 

On August 26, 2020, the US Securities and Exchange Commission (the SEC) adopted amendments to Rule 215 and Rule 501(a) of Regulation D promulgated under the Securities Act of 1933, as amended (the Securities Act), which...more

Proskauer - Law and the Workplace

Louisiana Expands Scope of Non-Competes Law to Include Partners, Shareholders and LLC Members

Louisiana’s amended non-competition statute (La. R.S. 23:921), which meaningfully expands the application of employment-related non-compete restrictions within the state, went into effect on August 1, 2020.  This amendment...more

Perkins Coie

SEC Adopts Amendments to Expand Accredited Investor Definition

Perkins Coie on

The U.S. Securities and Exchange Commission adopted amendments on August 26, 2020, to update the definition of “accredited investor” in Rule 501(a) of the Securities Act of 1933. The amendments will allow more investors to...more

Skadden, Arps, Slate, Meagher & Flom LLP

SEC Expands Accredited Investor Definition To Allow More Participation in Private Offerings

On August 26, 2020, the Securities and Exchange Commission (SEC) adopted amendments to expand the definition of “accredited investor” in Rule 215 and Rule 501(a) of Regulation D promulgated under the Securities Act of 1933,...more

Jaburg Wilk

New Arizona Limited Liability Act - Do I Really Need a New Operating Agreement?

Jaburg Wilk on

The Revised Arizona Limited Liability Act ("New Act") has been effective since September 1, 2019 for new limited liability companies ("LLCs"). It now becomes effective for any existing LLCs on September 1, 2020. Especially...more

Harris Beach PLLC

Loan Agreement Updates Needed for Delaware LLCs

Harris Beach PLLC on

Lenders should modify restrictive covenants related to mergers, reorganizations, acquisitions and similar transactions in new and amended loan documents due to amendments to the Delaware Limited Liability Company Act...more

Patterson Belknap Webb & Tyler LLP

Top 10 New York Commercial Division Cases and Developments of 2017

In 2017, the New York Commercial Division continued to implement new rules and refine existing rules in order to streamline litigation in the court. The year also saw some key decisions by the Commercial Division as well as...more

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