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S_BLT_2016A 04/26/2016 11:52:57 AM Committee Summary

Final

STAFF SUMMARY OF MEETING



SENATE COMMITTEE ON BUSINESS, LABOR, & TECHNOLOGY

Date: 04/26/2016
ATTENDANCE
Time: 11:52 AM to 11:58 AM
Baumgardner
X
Heath
X
Place: SCR 354
Hodge
*
Jahn
E
This Meeting was called to order by
Neville T.
X
Senator Holbert
Newell
X
Tate
*
This Report was prepared by
Woods
X
Jeanette Chapman
Holbert
X
X = Present, E = Excused, A = Absent, * = Present after roll call
Bills Addressed: Action Taken:
HB16-1329

HB16-1330

HB16-1333
Referred to the Committee of the Whole - Consent Calendar

Referred to the Committee of the Whole - Consent Calendar

Referred to the Committee of the Whole - Consent Calendar





11:53 AM -- HB 16-1329



Senator Heath and Senator Scheffel introduced House Bill 16-1329, concerning limited liability companies. The bill makes the following changes to state law regulating limited liability companies:

  • removes the requirement that a partner's contribution to an LLC is a prerequisite to becoming a member of that company;
  • clarifies that the tax status of an LLC does not affect the immunity of a member of the company from liability for the company's acts;
  • limits the applicability of the statute of frauds, which requires certain contracts to be written to be enforceable, to operating agreements for LLCs; and
  • reconciles the various partnerships and LLC acts regarding compensation of a partner for services performed during the windup of the entity's affairs.
BILL: HB16-1329
TIME: 11:54:39 AM
MOVED: Heath
MOTION: 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.
SECONDED:
VOTE
Baumgardner
Yes
Heath
Yes
Hodge
Excused
Jahn
Excused
Neville T.
Yes
Newell
Yes
Tate
Yes
Woods
Yes
Holbert
Yes
Final YES: 7 NO: 0 EXC: 2 ABS: 0 FINAL ACTION: PASS



11:55 AM -- HB 16-1330



Senator Heath and Senator Scheffel introduced House Bill 16-1330, concerning correction of statements to the Secretary of State's office. Under current law, an entity may file a statement of correction with the Secretary of State's Office to revoke a previously filed document under certain conditions. This bill allows statements of correction to also be filed for a document that was delivered and filed in error.

BILL: HB16-1330
TIME: 11:56:08 AM
MOVED: Heath
MOTION: Refer House Bill 16-1330 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.
SECONDED:
VOTE
Baumgardner
Yes
Heath
Yes
Hodge
Excused
Jahn
Excused
Neville T.
Yes
Newell
Yes
Tate
Yes
Woods
Yes
Holbert
Yes
Final YES: 7 NO: 0 EXC: 2 ABS: 0 FINAL ACTION:









11:57 AM -- HB 16-1333



Senator Heath and Senator Scheffel introduced House Bill 16-1333, concerning the partnerships statute. The bill changes state law regulating partnerships to:

  • limit the applicability of the statute of frauds, which requires certain contracts to be written in order to be enforceable, to partnership agreements formed after the bill's effective date; and
  • specify which of several potentially applicable laws govern limited partnerships.
    BILL: HB16-1333
    TIME: 11:57:50 AM
    MOVED: Heath
    MOTION: Refer House Bill 16-1333 to the Committee of the Whole with a recommendation that it be placed on the consent calendar. The motion passed on a vote of 8-0.
    SECONDED:
    VOTE
    Baumgardner
    Yes
    Heath
    Yes
    Hodge
    Yes
    Jahn
    Excused
    Neville T.
    Yes
    Newell
    Yes
    Tate
    Yes
    Woods
    Yes
    Holbert
    Yes
    Final YES: 8 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS



11:58 AM



The committee adjourned.


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