The Uniform Law Commission Drafting Committee met in Tucson to work on drafting the Uniform Series LLC Act. The Committee plans to eventually present its final drafting at the National Conference of Commissioner of Uniform State Laws (NCCUSL) during the annual meeting that will be held on July 7-17 in Stowe, Vermont. The new proposals will “incorporate numerous feature meant to create make the proposed Uniform Series LLC Act the most transparent of the various existing state Series LLC acts.” It is not yet clear whether the NCCUSL will approve the Uniform Series LLC Act. In the past there has been some severe criticism from some state commissioners when preliminary drafts were introduced during the last two annual meetings. There are some states like Arizona and Virginia that “are considering Series LLC Acts of their own, and are waiting to see what NCCUSL does with the proposed Uniform Act.”
See Jay Adkisson, Drafting of the Proposed Series LLC Act Moves Towards July Test, Forbes, January 31, 2016.
Special thanks to Jim Hillhouse for bringing this article to my attention.
