About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

44 UCLA L. Rev. 1541 (1996-1997)
Limited Liability Companies: Issues in Member Liability

handle is hein.journals/uclalr44 and id is 1557 raw text is: LIMITED LIABILITY COMPANIES: ISSUES IN MEMBER LIABILITY Karin Schwindt INTRODUCTION ............................................... 1542 I. BACKGROUND ............................................. 1543 A . H istory ............................................... 1543 B. Comparison of LLCs to Other Business Forms ................... 1544 1. Corporations ....................................... 1544 2. Limited Partnerships .................................. 1545 3. LI.Cs ............................................. 1545 C. Restrictions on LLC Formations ............................. 1545 1. Overview .......................................... 1545 2. Continuity of Life .................................... 1546 3. Centralized Management .............................. 1547 4. Free Transferability of Interest ........................... 1547 II. LIMITED LIABIuTY AND EXCEPTIONS IN THE LLC CONr ............ 1547 A. Personal Conduct ....................................... 1548 B. Collective Torts ........................................ 1548 C. Contracts ............................................. 1549 III. OTHER BUSINESS ORGANIZATIONS AND LIMrTED LIABLITY ............ 1549 IV. CORPORATIONS: PIERCING THE CORPORATE VEIL ................... 1550 A. Limited Partnerships ..................................... 1551 B. Application to LLCs ..................................... 1551 V. THE LLC STATUTES AND PIERCING LANGUAGE .................... 1553 A. Explicit Language ....................................... 1553 B. Implicit Language ....................................... 1554 C. No Language ........................................... 1554 D. California ............................................. 1555 VI. PIERCING THE CORPORATE VEIL-FACTORS AND APPUCATION TO LLCS ...................................... 1556 A . Overview ............................................. 1556 B. Factors ............................................... 1557 1. Nature of the Corporation .............................. 1557 a. Corporate Setting ................................ 1557 b. Application to LLCs .............................. 1558 * Comments Editor, UCLA Law Review, Volume 44. J.D., UCLA School of Law, 1997; B.A., Stanford University, 1993. Special thanks to Bryce Johnson, Monica Emerick, Parag Patel, and Maya Alexandri. 1541

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most