LLCs

Business and Economy
2:18 pm
Tue January 1, 2013

New "User Friendly" L.L.C. Act Goes Into Effect New Years Day

About 120,000 Granite Staters -- almost 10 percent of the state’s population -- are members of an LLC, or Limited Liability Corporation.  But too many LLCs fail because of internal disputes, says John Cunningham, a Concord lawyer and expert on LLCs.  On January 1, a revised LLC act that was signed by Governor Lynch in June will go into effect.  Cunningham -- who was the principle author of the original LLC law and chaired the committee that wrote the new act -- says the new law sets out to reduce disputes between LLC members by clarifying their responsibilities. He gives this example:

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