What is in a Name?
“Corporation”
Versus “Limited Liability Company”
A dispute in Georgia may turn
on the question of whether a corporation is equivalent to an LLC. As reported (HERE IS A LINK TO THE NEWS STORY), Palmetto Pipeline Company LLC is
challenging the denial of its ability to put in a pipeline and, in connection therewith,
exercise the power of eminent domain. One
argument is that the Georgia Pipeline Act defines a “pipeline company” as a corporation.
Palmetto, being an LLC and not a
corporation, is alleging that this is a distinction without a difference. Conversely, certain state actors are hanging
their hat on that distinction.
No comments:
Post a Comment