Adds new term special economic interest owner (a person who owns an economic interest and has rights to information and to seek dissolution but is not a member) to GS 57D-1-03 (definitions under the NC LLC Act). Modifies terms economic interest owner and interest owner to include special economic interest owners. Instructs that, when an individual ceases to be an LLC member under GS 57D-3-02 because of their death or adjudication of incompetence, the member's estate or the member through the member's designated agent or court-appointed guardian will automatically become a special economic interest owner entitled to (1) the economic interest attributable to the member's ownership interest, (2) the member's information rights as described in GS 57D-3-04, and (3) the member's standing to seek judicial dissolution under GS 57D-6-02(2) or under an alternative remedy, if applicable, in the operating agreement. Makes organizational changes. Applies to requests for information and actions for dissolution commenced on or after October 1, 2025.
INFO. RIGHTS OF ESTATE/DEATH OF LLC MEMBER.
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View NCGA Bill Details(link is external) | 2025-2026 Session |
AN ACT TO CREATE SPECIAL ECONOMIC INTEREST OWNERS OF LIMITED LIABILITY COMPANIES AND TO GRANT THEM INFORMATION RIGHTS AND STANDING TO SEEK JUDICIAL DISSOLUTION.Intro. by Sawrey.
Status: Re-ref to Judiciary. If fav, re-ref to Rules and Operations of the Senate (Senate action) (Mar 18 2025)
Bill History:
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Mon, 17 Mar 2025 Senate: Filed(link is external)
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Tue, 18 Mar 2025 Senate: Passed 1st Reading(link is external)
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Tue, 18 Mar 2025 Senate: Withdrawn From Com(link is external)
S 307
Bill Summaries:
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Bill S 307 (2025-2026)Summary date: Mar 17 2025 - View Summary
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