Chamber-Backed Bill to Bring About Corporate Officer Liability for LLP’s Moving Quickly

March 26, 2018

Legislation to bring corporate officer liability for LLP’s into line with that of LLC’s was introduced and passed out of the Senate and House committee unanimously last week. Senate Bill 841 (Brandenburg) awaits a vote in the full House where it will then be sent to the Governor. The bill would ensure that members of a partnership would not be held personally liable for debt, obligation, or other liability incurred by the partnership. 

For more information, contact Dan Papineau at dpapineau@michamber.com.