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47 Bus. Law. 375 (1991-1992)
The Limited Liability Company: A Study of the Emerging Entity

handle is hein.journals/busl47 and id is 393 raw text is: The Limited Liability Company: A Study of the Emerging Entity By Robert R. Keatinge, Larry E. Ribstein, Susan Pace Hamill, Michael L. Gravelle, Sharon Connaughton TABLE OF CONTENTS INTRODUCTION ............................................................ 378 H IST O R Y ....................................................................... 381 BUSINESS LAW ISSUES .................................................... 384 BASIC CHARACTERISTICS OF LLCS ............................ 384 Non-Corporate Elements .......................................... 385 L im ited L iability ..................................................... 385 Participation in Control ............................................. 385 COMPARISONS WITH OTHER BUSINESS FORMS .......... 386 LLCs vs. Corporations .............................................. 386 F orm ation ....................................................... 386 Capital Structure and Capital Contributions ............... 386 D istributions .................................................... 388 Transfer of Interests ........................................... 389 Member Withdrawal .......................................... 389 M anagem ent .................................................... 390 Fiduciary D uties ............................................... 391 D erivative A ctions .............................................. 392 D issolution ...................................................... 393 M erger .......................................................... 394 Foreign L LC s ........................................... ...... 394 LLCs vs. Close Corporations ....................................... 395 LLCs vs. Limited Partnerships ..................................... 396 M anagem ent .................................................... 397 Fiduciary D uties ............................................... 398 Transfer of Interests ........................................... 398 Dissolution and Continuation ................................. 399 LLCs vs. General Partnerships .................................... 399 F orm ation ....................................................... 399 F inance .......................................................... 399 Transfer of Interests ........................................... 400

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