Legislative Fact Sheet - Limited Liability Company (2006) (Last Amended 2013)

Act Limited Liability Company (2006) (Last Amended 2013)
Origin Completed by the Uniform Law Commission in 2006, amended in 2011 and 2013.
Description This act, a revision of the Uniform Limited Liability Company Act of 1996, permits the formation of limited liability companies (LLCs), which provide the owners with the advantages of both corporate-type limited liability and partnership tax treatment. The 2011 and 2013 amendments, enacted as part of the Harmonization of Business Entity Acts project, updated and harmonized the language in this act with similar provisions in other uniform and model unincorporated entity acts.

Approved by the American Bar Association

Endorsed by the Real Property, Probate and Trust Law Sections of the ABA

Enactments Alabama, Arizona, California, Connecticut, District of Columbia, Florida, Idaho, Illinois, Iowa, Minnesota, Nebraska, New Jersey, North Dakota, Pennsylvania, South Dakota, Utah, Vermont, Washington, Wyoming
2018 Introductions South Carolina
Staff Liaison(s) Kaitlin Wolff, Brian Lewis