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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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