When the Kansas legislature was considering a bill in early 2012 that would replace the Kansas limited liability company law with the Revised Uniform Limited Liability Company Act (RULLCA), representatives of the Kansas Bar Association testified at a hearing on the proposed law. The Kansas Bar Association opposed the enactment of RULLCA.
In a written statement to the Kansas legislature the Kansas Bar Association said the following about RULLCA:
“This committee should not adopt RULLCA for the following seven reasons.
1. Economic Recovery is Not the Time to Tinker with Small Businesses. . . .
2. RULLCA Would be a Radical Shift for Kansas. . . .
3. Businesses Prefer Delaware’s Legal Environment. . . .
4. Delaware is the World Leader in Business Law. . . .
5. RULLCA is Hardly Uniform. . . .
6. RULLCA Drifts Away from the Sweet Spot between Corporations and Partnerships. . . .
7. RULLCA Contains Controversial and Problematic Provisions. . . . “
Read the written statement because the reasoning behind each of the seven reasons listed above is explained.