BRIDGEPORT, Conn. -- State Rep. Steve Stafstrom (D-Bridgeport) pledged his support this week for House Bill 5259, “An Act Concerning Adoption of the Connecticut Uniform Limited Liability Company Act.”
The bill, which received a public hearing in the Judiciary Committee on Monday, would provide a comprehensive update to the state’s existing limited liability company act. Some of the bill’s features include clarifying the purposes and limitations of LLC Operating Agreements; specifying default governance rules; identifying fiduciary duties to the LLC.
“By enacting this much needed update to our LLC statute we can provide greater clarity for those owners and those doing business with an LLC," Stafstrom said, “I am pleased to have worked with the Connecticut Bar Association and other stake holders to advance this important legislation which will help businesses grow and thrive in our state.”
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