RULLCA Archives - Focus Law LA

Fiduciary Strings Attached to Members of Limited Liability Companies

by FOCUS LAW | Aug 21, 2014 | Business Litigation, Corporate Law, Limited Liability Company Law, Partnership Law

Managers and managing members of limited liability corporations (LLC’s) owe duties of care and loyalty (called fiduciary duties) to the LLC and its members. A member of an LLC has far more responsibility to fellow shareholders than an employee would have to an...

Updated California LLC Law Changes Default Rules and Adds Flexibility to Fiduciary Duties

by FOCUS LAW | Feb 5, 2014 | Business Litigation, Business Start Ups, Corporate Law, Limited Liability Company Law, Partnership Law

st of 2014 by the new California Revised Uniform Limited Liability Company Act (RULLCA). The new provisions of RULLCA significantly alter the default and mandatory rules that previously governed California based LLCs. Although many of the provisions are similar to the...