Sometimes state legislatures react slowly to judge-made
law and sometimes they move swiftly to correct perceived problems created by
court rulings. Often, such rash legislative action is not well thought-out or
properly drafted, making the solution worse than the fix. However, in Florida,
The Virginia Supreme Court ruled on November 4, 2011, that membership in a Virginia
limited liability company is comprised of two components--a control interest
and a financial interest--and that only the financial interest is transferable
by will when a member dies. Moreover, the court held that...
The Fourth Circuit doesn't get into matters of LLC law
very often, but it did last week in Painter's
Mill Grille, LLC v. Brown [ an enhanced version of this opinion is available to lexis.com
subscribers ]. The LLC and its members were suing their landlord for
discriminating against them on...