Litigation

Ribstein on LLCs

By Francis G. X. Pileggi, Esq.

Prof. Larry Ribstein has literally "written the book" on LLCs and other "alternative forms of entities" and has also written many articles on the topic, in his role and one the nation's leading authorities on LLCs and other non-corporate forms of entities. He comments on his Ideoblog  here  about proposed revisions to the uniform laws relating to LLCs. The introduction to his post provides that:

I have already written on the incredibly misguided Revised Uniform Limited Liability Company Act. In my analysis of the law, I note that the Act "threaten[s] to impose substantial risks and costs on limited liability companies. . .that there is little reason for states to adopt the Act, and that practitioners should be wary about advising clients to form under it."

...

As misguided and as harmful as the "uniform" law is, many state legislatures do need some sort of model because they lack the resources to draft state-of-the-art statutes. They can use the more sophisticated statutes, including those of Delaware, Colorado, Georgia, and Virginia. But they may need guidance picking particular provisions from these statutes.

Anyone serious about keeping up to date on the latest developments in the law of LLCs, needs to read the whole post above and the links provided therein to other original sources and writings on the topic.

Full post as published by Delaware Corporate and Commercial Litigation Blog on April 05, 2008 (boomark / email).