California’s New LLC Law: Next Steps for California LLCs
If your management company or fund was formed as a California limited liability company, you need to review your Operating Agreement to determine whether amendments need to be made.
On January 1, 2014, California’s Beverly-Killea Limited Liability Company Act (Old Act) was superseded by the California Revised Uniform Limited Liability Company Act (New Act). The New Act includes a number of substantive changes that may adversely affect existing California limited liability companies unless they amend their operating agreements.
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