HB16-1329 - Limited Liability Companies Governing Law

Passed/Signed into Law
Concerning Laws Governing Limited Liability Companies Codified In Article 80 Of Title 7 Of The Colorado Revised Statutes.

Section 1 of the bill deletes the requirement that a partner's contribution to a limited liability company is a prerequisite to become 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.

Latest update: June 6, 2016
06/06/2016 Governor Signed
05/05/2016 Sent to the Governor
05/05/2016 Signed by the President of the Senate
05/05/2016 Signed by the Speaker of the House
04/29/2016 Senate Third Reading Passed - No Amendments
04/28/2016 Senate Second Reading Special Order - Passed - No Amendments
04/26/2016 Senate Committee on Business, Labor, & Technology Refer Unamended - Consent Calendar to Senate Committee of the Whole
04/14/2016 Introduced In Senate - Assigned to Business, Labor, & Technology
04/14/2016 House Third Reading Passed - No Amendments
04/13/2016 House Second Reading Passed - No Amendments
04/07/2016 House Committee on Business Affairs and Labor Refer Unamended to House Committee of the Whole
03/02/2016 Introduced In House - Assigned to Business Affairs and Labor