Recent Changes to Delaware Limited Liability Company Laws

Gus J. Bourgeois, III

October 12, 2009

Gus Bourgeois recently gave an in-house presentation to BoyarMiller’s Business Group regarding recent changes to Delaware’s limited liability company laws as discussed in The Wave of the Future and Advising Your Clients About What to Expect, written by Peter J. Walsh, Jr. and Dominick T. Gattuso published in the ABA Business Law Today.

Highlights include reviews of Spellman v. Katz, C.A. No. 1838 (Del. Ch. Feb. 6, 2009) which cites parol evidence of members’ contrary intent as to dissolution of company inadmissible when language in Operating Agreement is clear and unambiguous; andFish Venture, LLC v. Segal, C.A. No. 30l7-CC (Del. Ch. May 7, 2008) which cites fiduciary duties may be limited or excluded by clear and unambiguous language in Operating Agreement.  For more information download the complete article at http://bit.ly/2iJbb1X.