LexisNexis® Legal Newsroom
Foley & Lardner Alert: Florida Moves Quickly to Preserve Its Status as a Business-Friendly State

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, within one...

Virginia Limited Liability Company (LLC) Membership Interests Analogous to Partnership

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...

Fourth Circuit on LLC Law and Fried Chicken and Waffles

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...