Kansas Bar Association Opposes RULLCA

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Kansas Bar Association Opposes RULLCA

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.

By |October 11th, 2012|RULLCA Cons|0 Comments

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