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LLC Act

New Jersey Revised Uniform Limited Liability Company Act

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.

  • 4th Annual Montgomery Township PBA Fundraiser

    The firm is a sponsor of the Police Benevolent Association’s 4th Annual Sporting Clay Fundraiser. The event takes place at Lehigh Valley Sporting Clays on April 15.

  • Children’s Home Society Honors Meta A. And William S. Griffith Foundation

    Mason, Griffin & Pierson, P.C. is pleased to support the 125th anniversary of The Children’s Home Society of New Jersey. The gala event takes place April 6th at Cherry Valley Country Club in Skillman, New Jersey. The Children’s Home Society of New Jersey is a nonprofit organization which helps at-risk children of all ages and families achieve their potential by protecting abused or neglected children and by strengthening families. In memory of Meta A. Griffith, the event will honor the Meta A. and William S. Griffith Foundation.

  • Robbinsville Township Raises Funds for Mercer Street Friends

    Robbinsville Township hosts its 2019 State of Robbinsville Township Address on April 30th. The fundraiser benefits the Mercer Street Friends “Send Hunger Packing” Program. Mercer Street Friends serves more than 20,000 families throughout Mercer County who face poverty. Its programs target education, food insecurity, parental and family wellness and youth enrichment opportunities. Mason, Griffin & Pierson, P.C. is a sponsor of the event.