PRINTER'S NO. 1895
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No.
1398
Session of
2015
INTRODUCED BY A. HARRIS, THOMAS, MACKENZIE, STAATS, MILLARD,
LONGIETTI, GIBBONS, ROZZI, McGINNIS, GREINER, BARBIN, COHEN,
MILNE, MARSICO, PETRI, DeLISSIO, DAVIDSON, JAMES, PEIFER,
DAY, GROVE, FARRY, ELLIS, BENNINGHOFF, P. COSTA, F. KELLER,
R. BROWN, D. PARKER, KORTZ AND EVERETT, JUNE 24, 2015
REFERRED TO COMMITTEE ON COMMERCE, JUNE 24, 2015
AN ACT
Amending Titles 15 (Corporations and Unincorporated
Associations) and 54 (Names) of the Pennsylvania Consolidated
Statutes, modernizing the law on limited liability
partnerships, general partnerships, limited partnerships and
limited liability companies; and making conforming changes
with respect to associations, corporations, unincorporated
nonprofit associations and business trusts by doing the
following:
As to general provisions, making conforming changes by
revising definitions.
As to corporations, making conforming changes by revising
provisions on distributions by business corporations and by
adding provisions on the use of special litigation committees
by business corporations and nonprofit corporations.
As to partnerships generally:
extensively revising provisions on:
interchangeability of partnership, limited
liability company and corporate forms of
organization; and
ownership of certain professional partnerships;
and
adding a provision on failure to observe formalities.
As to limited liability partnerships:
extensively revising provisions on:
scope;
definitions;
limitation on liability of partners;
extraterritorial application of subchapter;
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