In Pasquarella v. 1525 William St., LLC, 120 A.D.3d 982 (N.Y. App. Div. Aug.
Judge James T. Vaughn, Jr.
Amendments to the Delaware Limited Liability Company Act adopted earlier this year by the Delaware General Assembly went into effect August 1, 2014.
The amendments are as follows:
In Ross Holding and Management Co. v. Advance Realty Group LLC, the Delaware Court of Chancery has held again that traditional corporate fiduciary duties of care and loyalty apply to the members and managers of limited liability companies. The Court wrote:
As a follow-up to our September 1 post, we present this link to New Jersey Business's "
Some types of business entities (most famously, corporations) offer limited liability to their managers, owners, and officers. That is, under most circumstances such parties will have no personal liability for debts incurred (through tort or contract) by the business entity.
It's a few months old, but this article from the Florida Bar Journal on Florida’s New Revised LLC Act is worth reading.
New Hampshire has become the latest state to enact a benefit corporations statute. In July 2014, Governor Maggie Hassan signed into law the New Hampshire Benefit Corporation Act, NH RSA 293-C.
In "Did Anyone Tell the Judge the Business Corporation Law Doesn’t Apply to LLC Dissolution?", Peter Mahler reports on th