On May 3, 2013, the Florida Legislature passed the new Florida Revised Limited Liability Company Act. The act will repeal the existing LLC act on January 1, 2015, but the changes for new businesses will go into effect on January 1, 2014.
The purpose of the law is to better help Florida compete with other states for new LLCs.
The new act changes a lot of rules regarding LLCs. These include:
– More definitions
– Expands the list of rules which cannot be overridden by the operating agreement
– Changes the rules for the authority of members and managers
– Modifies the management structure, voting rules, member dissociation and company dissolution
– Modifies provisions governing organic transactions, such as mergers
– Adds express provisions regarding special litigation committees
– And much more
If you want to setup a Limited Liability Company (LLC), Boyer Law Firm’s business attorneys can help. In addition to ensuring that you comply with the new Florida Revised Limited Liability Company Act, they can help you with everything from the Articles of Organization to creating a bank account to business planning in the future. Contact us today for more information.