HB16-1329
Limited Liability Companies Governing Law
| Type | Bill |
|---|---|
| Session | 2016 Regular Session |
| Subjects |
Concerning laws governing limited liability companies codified in article 80 of title 7 of the Colorado Revised Statutes.
Bill Summary:
Section 1 of the act deletes the requirement that a partner's contribution to a limited liability company is a prerequisite to becoming a member of the company. Section 2 clarifies that the tax status of a limited liability company does not affect the immunity of a member of the company from liability for the company's acts. Section 3 limits the applicability of the statute of frauds, which requires certain contracts to be written to be enforceable, to operating agreements for limited liability companies. Section 4 reconciles the various partnership and limited liability company acts regarding compensation of a partner for services performed during the windup of the entity's affairs.
(Note: This summary applies to this bill as enacted.)
(Note: This summary applies to this bill as enacted.)
Related Documents & Information
| Activity | Vote | Documents |
|---|---|---|
| Refer House Bill 16-1329 to the Committee of the Whole with a recommendation that it be placed on the consent calendar. | The motion passed on a vote of 7-0. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Refer House Bill 16-1329 to the Committee of the Whole. | The motion passed on a vote of 12-0. | Vote summary |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 04/29/2016 | Third Reading | BILL |
34
AYE
0
NO
1
OTHER
|
Vote record |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 04/14/2016 | Third Reading | BILL |
65
AYE
0
NO
0
OTHER
|
Vote record |
| Date | Location | Action |
|---|---|---|
| 06/06/2016 | Governor | Governor Signed |
| 05/05/2016 | Governor | Sent to the Governor |
| 05/05/2016 | Senate | Signed by the President of the Senate |
| 05/05/2016 | House | Signed by the Speaker of the House |
| 04/29/2016 | Senate | Senate Third Reading Passed - No Amendments |
| 04/28/2016 | Senate | Senate Second Reading Special Order - Passed - No Amendments |
| 04/26/2016 | Senate | Senate Committee on Business, Labor, & Technology Refer Unamended - Consent Calendar to Senate Committee of the Whole |
| 04/14/2016 | Senate | Introduced In Senate - Assigned to Business, Labor, & Technology |
| 04/14/2016 | House | House Third Reading Passed - No Amendments |
| 04/13/2016 | House | House Second Reading Passed - No Amendments |
| 04/07/2016 | House | House Committee on Business Affairs and Labor Refer Unamended to House Committee of the Whole |
| 03/02/2016 | House | Introduced In House - Assigned to Business Affairs and Labor |
Prime Sponsor
Sponsor
(None)
Co-Sponsor
| Effective Date | Chapter # | Title | Documents |
|---|---|---|---|
| 08/10/2016 | 242 | Limited Liability Companies Governing Law |