Tuesday, August 4, 2020

LLCs Are NOT Corporations

LLCs Are NOT Corporations

        David Tingstad, on the blog maintained by his firm Beresford Booth, on July 22 posted a piece with the synced title LLCs are NOT Corporations; HERE IS A LINK to that posting.

       It is all too common for those of us who are active in the LLC commentary world to highlight the decisions in which the court has discussed a "limited liability corporation"; I recently addressed the topic in a posting made on March 5 under the (highly imaginative) title LLCs Are Not Corporations; HERE IS A LINK to that posting.

       Returning to David's posting, I recommend his piece to you because he has gone beyond simply noting that the reference to an LLC as a “limited liability corporation” is substantively wrong to address some of the significant distinctions between corporations and LLCs, particularly with respect to dissociation and the impact of death.

       Again, I would commend David's observations to you.

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