Find out how the laws on general partnerships (including limited liability partnerships), limited partnerships, and limited liability companies in Pennsylvania has been modernized! Long anticipated, Act 170 (signed into law on November 21, 2016) amended Title 15 and Title 54 entity law in Pennsylvania, to clarify and replace out-of-date laws. In this one-hour overview session you will learn the nuts and bolts of Act 170 and its significant impact on partnership and LLC law.
Our top notch faculty will fill you in on:
- Why revisions took place and which entities were affected
- What “full shield” protection means under the updated LLP provision
- How the duties of care and loyalty in certain entities were updated
- How to modify the statutory default rules (with a few exceptions) by careful drafting of the contract among the owners
- The critical distinctions between governance rights and economic rights under the law
- And so much more!
Recorded during a live webinar in December 2016.