[Introduced] [Passed Senate] [Sent to Governor]
History of Actions | Background | Title |
Description: Limited Liability Company Act; revise.
1 | 01/19/98 | (S) | Referred To Judiciary | |
2 | 01/30/98 | (S) | Title Suff Do Pass | |
3 | 02/09/98 | (S) | Passed | |
4 | 02/10/98 | (S) | Transmitted To House | |
5 | 02/11/98 | (H) | Referred To Judiciary A | |
6 | 02/24/98 | (H) | Title Suff Do Pass | |
7 | 03/04/98 | (H) | Passed | |
8 | 03/06/98 | (H) | Transmitted To Senate | |
9 | 03/10/98 | (S) | Enrolled Bill Signed | |
10 | 03/10/98 | (H) | Enrolled Bill Signed | |
11 | 03/10/98 | Due From Governor 03/16/98 | ||
12 | 03/16/98 | Approved by Governor |
Effective date | July 1, 1998 | |
Disposition | Law | |
Deadline | General Bill/Constitutional Amendment | |
Revenue | No | |
3/5ths vote required | No | |
Chapter number | 376 |
Senate Committee:
House Committee:
Principal Author: Robertson
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 MISSISSIPPI 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 ALLOW DOMESTIC LIMITED PARTNERSHIPS FORMED BEFORE THE EFFECTIVE DATE OF THE ACT TO ELECT TO COME WITHIN THE PROVISIONS OF THE CHAPTER; TO AMEND SECTION 79-29-103, MISSISSIPPI CODE OF 1972, TO REVISE DEFINITIONS TO CLARIFY THAT A LIMITED LIABILITY COMPANY MAY HAVE ONE MEMBER AND TO PROVIDE THAT A LIMITED LIABILITY COMPANY AGREEMENT NEED NOT BE IN WRITING; TO AMEND SECTION 79-29-307, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT A MEMBER OF A LIMITED LIABILITY COMPANY HAS NO POWER TO WITHDRAW FROM THE COMPANY UNLESS SO SPECIFIED IN THE LIMITED LIABILITY COMPANY AGREEMENT; 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 OF THE REMAINING MEMBERS OR SUCH OTHER NUMBER AS MAY BE PROVIDED IN THE CERTIFICATE OF FORMATION OR A LIMITED LIABILITY COMPANY AGREEMENT CONSENT TO DO SO; TO MAKE CERTAIN TRANSITIONAL PROVISIONS; AND FOR RELATED PURPOSES.
End Of Document
1998/History/SB\SB3154.htm