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2001 SESSION

• | print version

HB 2235 Limited liability companies; conversion, membership & distributions.

Introduced by: Alan A. Diamonstein | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Limited liability companies; membership and distributions. Permits formation of a limited liability company without any initial members and provides procedures and conditions for admission of members when a limited liability company has no members at the time it is formed. Restrictions on distributions by limited liability companies do not apply to payments for services or payments made in the ordinary course of business pursuant to bona fide employee compensation arrangements. The bill confirms entity status of limited liability companies notwithstanding status for income tax purposes.

FULL TEXT

• 01/10/01  House: Presented & ordered printed, prefiled 01/10/01 018835724  pdf | impact statement
• 01/30/01  House: Committee substitute printed 010063724-H1  pdf | impact statement
• 02/26/01  House: Bill text as passed House and Senate (HB2235ER)  pdf | impact statement
• 03/27/01  Governor: Acts of Assembly Chapter text (CHAP0548)  pdf

AMENDMENTS

• Senate amendments
• Senate amendments engrossed

HISTORY

• 01/10/01  House: Presented & ordered printed, prefiled 01/10/01 018835724
• 01/10/01  House: Referred to Committee on Corporations, Insurance and Banking
• 01/19/01  House: Assigned to C. I. B. sub-committee: 4
• 01/30/01  House: Reported from C. I. B. w/sub (25-Y 0-N)
• 01/30/01  House: Committee substitute printed 010063724-H1
• 01/31/01  House: Read first time
• 02/01/01  House: Read second time
• 02/01/01  House: Committee substitute agreed to 010063724-H1
• 02/01/01  House: Engrossed by House - committee substitute 010063724-H1
• 02/02/01  House: Read third time and passed House BLOCK VOTE (99-Y 0-N)
• 02/02/01  House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
• 02/02/01  House: Communicated to Senate
• 02/07/01  Senate: Constitutional reading dispensed
• 02/07/01  Senate: Referred to Committee on Commerce and Labor
• 02/19/01  Senate: Reported from C. & L. with amendment (15-Y 0-N)
• 02/20/01  Senate: Constitutional reading dispensed (40-Y 0-N)
• 02/20/01  Senate: VOTE: CONST. RDG. DISPENSED R (40-Y 0-N)
• 02/20/01  Senate: Read third time
• 02/20/01  Senate: Reading of amendment waived
• 02/20/01  Senate: Committee amendment agreed to
• 02/20/01  Senate: Engrossed by Senate as amended
• 02/20/01  Senate: Passed Senate with amendment (40-Y 0-N)
• 02/20/01  Senate: VOTE: PASSAGE R (40-Y 0-N)
• 02/20/01  Senate: Rec. of Sen. passage agreed to by Senate (40-Y 0-N)
• 02/20/01  Senate: VOTE: RECONSIDER R (40-Y 0-N)
• 02/20/01  Senate: Passed Senate with amendment (40-Y 0-N)
• 02/20/01  Senate: VOTE: PASSAGE R (40-Y 0-N)
• 02/21/01  House: Placed on Calendar
• 02/22/01  House: VOTE: ADOPTION (97-Y 1-N)
• 02/22/01  House: Senate amendment agreed to by House (97-Y 1-N)
• 02/26/01  House: Bill text as passed House and Senate (HB2235ER)
• 03/02/01  House: Enrolled
• 03/02/01  House: Signed by Speaker
• 03/02/01  Senate: Signed by President
• 03/23/01  Governor: Approved by Governor-Chapter 548 (effective 7/1/01)
• 03/27/01  Governor: Acts of Assembly Chapter text (CHAP0548)