Brian C. Konkel, JD

@dugganbertsch.com

Illinois Enacts Sweeping Changes to LLC Act

The Illinois Limited Liability Company Act (805 ILCS 180/1-1) has undergone significant changes via House Bill 4361, which was signed into law by Governor Rauner on July 28, 2016.  These amendments took effect July 1, 2017.  The consequences of the amendments to the Act may require revisiting and amending existing documents to ensure compliance with new provisions under the Act, and consistency with the intent of the parties.  Some of these changes are detailed below.  Please feel free to contact us to discuss how these amendments may impact you.   

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Brian C. KONKEL writes for the Sports Litigation Alert, an online publication featuring an extensive archive of case summaries and guest articles written by sports law professionals.

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