History of Actions | Background | Title |
Description: Business law; technical amendments to LPA, LLCA and LLPA.
| 1 | 01/13/98 | (H) | Referred To Judiciary A | |
| 2 | 02/03/98 | (H) | Died In Committee |
| Effective date | July 1, 1998 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| 3/5ths vote required | No |
House Committee:
Principal Author: Simpson
Code Sections: A 079-0012-0029, A 079-0014-0603, A 079-0014-0604, A 079-0029-0103, A 079-0029-0307, A 079-0029-0801
Title: AN ACT TO AMEND SECTION 79-12-29, MISSISSIPPI CODE OF 1972, TO BROADEN THE VICARIOUS LIABILITY SHIELD APPLICABLE TO PARTNERS IN A LIMITED LIABILITY PARTNERSHIP; TO AMEND SECTIONS 79-14-603 AND 79-14-604, MISSISSIPPI CODE OF 1972, TO ALLOW A LIMITED PARTNER TO WITHDRAW AND RECEIVE DISTRIBUTION UPON WITHDRAWAL AS SPECIFIED IN THE PARTNERSHIP AGREEMENT; TO CREATE SECTION 79-14-1108, MISSISSIPPI CODE OF 1972, TO SPECIFY THE LAW GOVERNING CERTAIN DOMESTIC LIMITED PARTNERSHIPS; TO AMEND SECTION 79-29-103, MISSISSIPPI CODE OF 1972, TO REVISE DEFINITIONS IN THE MISSISSIPPI LIMITED LIABILITY COMPANY ACT; TO AMEND SECTIONS 79-29-307, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT UNLESS PROVIDED IN THE CERTIFICATE OF FORMATION OR LIMITED LIABILITY COMPANY AGREEMENT A MEMBER HAS NO POWER TO WITHDRAW FROM A LIMITED LIABILITY COMPANY; TO AMEND SECTION 79-29-801, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT A LIMITED LIABILITY COMPANY IS NOT REQUIRED TO BE DISSOLVED UPON AN EVENT OF DISASSOCIATION OF A MEMBER UNLESS A MAJORITY OR OTHER SPECIFIED NUMBER CONSENT TO DO SO; TO CREATE SECTION 79-29-1205, MISSISSIPPI CODE OF 1972, TO PROVIDE CERTAIN TRANSITIONAL PROVISIONS; AND FOR RELATED PURPOSES.
End Of Document
1998/History/HB\HB0928.htm