- Of Counsel
On March 18, 2013, the Revised Uniform Limited Liability Company Act (“RULLCA”) will take effect in the State of New Jersey. RULLCA contains significant changes to the existing limited liability company act, including changes to duties of managers and members, deviation from voting in proportion to ownership interest, new procedures for dissolution, and new provisions affecting the withdrawal of members.
The new law will immediately affect any limited liability company formed after March 18, 2013; however, all limited liability companies, even those formed prior to March 18, 2013, will become subject to RULLCA effective March 1, 2014. Limited liability companies formed prior to March 18, 2013 have the right to “opt-in” to RULLCA prior to March 1, 2014 and there may be meaningful reasons to consider such an undertaking.
Now is a good time to have an attorney review any New Jersey limited liability company in which you may have an ownership or managerial interest. While periodic “check-ups” are recommended as a matter of course, with these sweeping changes in the law, it is important to have any limited liability company and its operating agreement reviewed at this time to help ensure that your intended expectations are covered under the new law.
Sharon A. Dragan has been named Director and Shareholder with Mason, Griffin & Pierson. Sharon received a J.D. from Seton Hall University School of Law where she served as Bureau Editor for the Seton Hall Legislative Bureau and is admitted to practice law in New Jersey and Pennsylvania. She practices in the areas of local government law, zoning and land use law, real estate law, and estate law. Sharon is Attorney for the Township of Readington, Attorney for Alexandria Township, Attorney for Delaware Township and Attorney for Special Open Space Counsel of West Amwell Township. In her continued service to the legal profession, Sharon served on the District XIII Ethics Committee for several years, the committee that acts as the investigative and prosecutorial arm of the Supreme Court of New Jersey in discharging the Court's constitutional responsibility to supervise and discipline New Jersey attorneys. Sharon is a Trustee of the New Jersey Institute of Local Government Attorneys, a professional organization with the purpose of promoting education and professionalism among local government attorneys. She is a member of the Hunterdon County, New Jersey State and Pennsylvania State Bar Associations.
Mason, Griffin & Pierson continues its support of youth basketball programs in the community. For more information on the Dillon Youth Basketball League go to the Princeton Recreation Department at www.leaguelineup.com
For information on the Montgomery Basketball Association go to www.montgomerybasketball.com
In May of this year, New Jersey joined the growing number of states to enact paid sick leave laws. The New Jersey Paid Sick Leave Act is currently in effect and below you will find certain information that is important for all New Jersey employers to understand.
Who Does it Affect?
The Act applies to New Jersey employers of all sizes, including businesses that are based elsewhere but have employees located in New Jersey. While several New Jersey municipalities already had paid sick leave ordinances, this new state law preempts them, meaning they no longer apply and employers throughout the state are now subject to one consistent set of requirements.
The Act does not apply to a few narrow categories of employees: (1) construction industry employees working under collective bargaining agreements; (2) per diem health care employees; or (3) public employees who are already provided with sick leave with full pay pursuant to any other state law, rule, or regulation.
Mason, Griffin & Pierson is pleased to sponsor Montgomery Township Education Foundation. The Foundation's fundraiser takes place on the evening of February 23 at Cherry Valley Country Club in Skillman, New Jersey. The Foundation is an independent, non-profit organization set up to support strategic programs for the benefit of the Montgomery Township public school children.
For more information go to one.bidpal.net/mtefcomedynight