Friday, October 16, 2015
What is in a Name? “Corporation” Versus “Limited Liability Company”
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.