I, along with my colleagues Rachel Lilienthal Stark and Henry E. Van Blunk, have authored a client alert regarding important changes to the law governing limited liabilities formed in New Jersey. While the law was actually passed in September of 2012, it did not affect existing limited liability companies until March 1, 2014. The law, known as the New Jersey Revised Uniform Limited Liability Company Act, or “RULLCA”, makes significant changes to many of the legal principles underlying the organization and operation of limited liability companies. Because RULLCA introduces several new “default” rules that will apply in the absence of a contrary provision in the operating agreement, your company’s governing documents should be carefully reviewed to determine the necessity or appropriateness of any amendments.
Click Here for more information about the RULLCA and to find out what this law may mean for you and your business. If you have any questions or concerns, or are interested in a legal review of your limited liability company documents, please contact Stark & Stark’s Business and Corporate group.