Bill Information

An Act amending Titles 15 (Corporations and Unincorporated Associations) and 54 (Names) of the Pennsylvania Consolidated Statutes, further providing for definitions; further providing, in registered limited liability partnerships, for ownership of certain professional partnerships, for scope, for definitions, for limitation on liability of partners, for liability of withdrawing partner, for foreign registered limited liability partnerships, for annual registration; further providing, in general partnerships, for definitions, for rules of construction; providing, in limited partnerships, for advertisement; further providing, in limited partnerships, for assignment of partnership interest and for changes and amendments; further providing, in limited liability companies, for definitions and index of definitions; providing, in limited liability companies, for validation of prohibitions of assignments; further providing, in limited liability companies, for operating agreement, for management, for limitation on dissociation or assignment of membership interest and for dissolution; providing, in limited liability companies, for advertisement; further providing, in limited liability companies, for distribution of assets upon dissolution and for certificate of dissolution; further providing, in business trusts, for liability of trustees and beneficiaries; further providing, in names, for definitions; and further providing, in corporate and other association names, for register establishment.