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CS/CS/CS/SB 554: Limited Liability Companies

GENERAL BILL by Rules ; Judiciary ; Commerce and Tourism ; Simmons

Limited Liability Companies; Specifying that persons who are not members of a limited liability company are not deemed to have notice of a provision of the company’s articles of organization which limits a person’s authority to transfer real property held in the company’s name unless such limitation appears in an affidavit, certificate, or other instrument that is recorded in a specified manner; removing the prohibition that an operating agreement may not vary the power of a person to dissociate, etc.

Effective Date: Except as otherwise expressly provided in this act and except for this section, which shall take effect upon this act becoming a law, this act shall take effect July 1, 2015
Last Action: 4/22/2015 Senate - Laid on Table, companion bill(s) passed, see CS/CS/CS/HB 531 (Ch. 2015-148) -SJ 501
Bill Text: Web Page | PDF
Senate Committee References:
  1. Commerce and Tourism (CM)
  2. Judiciary (JU)
  3. Rules (RC)



Bill History

Date Chamber Action
1/28/2015 Senate • Filed
2/5/2015 Senate • Referred to Commerce and Tourism; Judiciary; Rules -SJ 68
2/23/2015 Senate • On Committee agenda-- Commerce and Tourism, 03/02/15, 1:00 pm, 110 Senate Office Building
3/2/2015 Senate • CS by Commerce and Tourism; YEAS 5 NAYS 0 -SJ 160
3/3/2015 Senate • Introduced -SJ 68
• Pending reference review under Rule 4.7(2) - (Committee Substitute)
• Now in Judiciary -SJ 160
• CS by Commerce and Tourism read 1st time -SJ 155
3/12/2015 Senate • On Committee agenda-- Judiciary, 03/17/15, 11:00 am, 110 Senate Office Building --Meeting cancelled
3/19/2015 Senate • On Committee agenda-- Judiciary, 03/24/15, 4:00 pm, 110 Senate Office Building
3/24/2015 Senate • CS/CS by Judiciary; YEAS 9 NAYS 0 -SJ 260
3/25/2015 Senate • Pending reference review under Rule 4.7(2) - (Committee Substitute)
3/26/2015 Senate • Now in Rules -SJ 260
3/30/2015 Senate • On Committee agenda-- Rules, 04/02/15, 11:30 am, 110 Senate Office Building
3/31/2015 Senate • CS/CS by Judiciary read 1st time -SJ 268
4/2/2015 Senate • CS/CS/CS by- Rules; YEAS 11 NAYS 0 -SJ 351
4/3/2015 Senate • Pending reference review -under Rule 4.7(2) - (Committee Substitute)
• Placed on Calendar, on 2nd reading -SJ 351
• Placed on Special Order Calendar, 04/08/15
4/7/2015 Senate • CS/CS/CS by Rules read 1st time -SJ 353
4/8/2015 Senate • Retained on Special Order Calendar -SJ 372
4/14/2015 Senate • Read 2nd time -SJ 411
• Amendment(s) adopted (783904) -SJ 412
• Ordered engrossed -SJ 414
• Placed on 3rd reading
4/22/2015 Senate • Read 3rd time -SJ 501
• Substituted CS/CS/CS/HB 531 -SJ 501
• Laid on Table, companion bill(s) passed, see CS/CS/CS/HB 531 (Ch. 2015-148) -SJ 501