Corporations – Limited Liability Companies – Member–Trustees – Establishment

Bill Number:  SB0070

Bill Sponsor(s):  Senator Norman

Subject:  Judicial Proceedings

Bill Summary:

Requiring the articles of organization for a limited liability company to include the name and address of each member of the limited liability company; providing that if the State Department of Assessments and Taxation issues a certain proclamation declaring that a limited liability company has forfeited certain rights, the members of the limited liability company become the trustees of its assets for certain purposes; etc.

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