Calif.'s New LLC Act Needs Clarification

Law360, New York (August 26, 2013, 12:23 PM EDT) -- On Sept. 21, 2012, S.B. 323, the California Revised Uniform Limited Liability Company Act (known as the RULLCA), was signed into law by Gov. Jerry Brown and is scheduled to take effect on Jan. 1, 2014.

The RULLCA entirely replaces the Beverly-Killea Limited Liability Company Act and revises certain rules for formation and operation of limited liability companies in the state of California. There is a possibility, however, that the RULLCA will be modified prior to Jan. 1, 2014, and thus the law governing LLCs may...
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