SB361 Alabama 2017 Session

Summary

Primary Sponsor

Arthur Orr Senator

Republican

Session

Regular Session 2017

Title

Alabama Partnership Act, repealed and replaced, procedures for formation and dissolution, conforming changes, Secs. 10A-1-5.10, 10A-1-9.01 added; Secs. 10A-1-5.07, 10A-1-7.33, 10A-8-1.01 to 10A-8-11.04, inclusive, repealed; Secs. 10A-1-1.02, 10A-1-1.03, 10A-1-1.06, 10A-1-1.08, 10A-1-1.12, 10A-1-2.02, 10A-1-3.06, 10A-1-3.17, 10A-1-3.32, 10A-1-3.33, 10A-1-3.41, 10A-1-4.01, 10A-1-4.02, 10A-1-4.25, 10A-1-4.31, 10A-1-5.01, 10A-1-5.02, 10A-1-5.03, 10A-1-5.04, 10A-1-5.05, 10A-1-5.06, 10A-1-5.08, 10A-1-5.11, 10A-1-5.12, 10A-1-5.31, 10A-1-5.32, 10A-1-5.33, 10A-1-7.01, 10A-1-7.02, 10A-1-7.03, 10A-1-7.04, 10A-1-7.05, 10A-1-7.06, 10A-1-7.07, 10A-1-7.11, 10A-1-7.12, 10A-1-7.13, 10A-1-7.14, 10A-1-7.22, 10A-1-7.23, 10A-1-7.24, 10A-1-7.31, 10A-1-7.32, 10A-1-7.34, 10A-1-7.36, 10A-1-7.37, 10A-1-8.01, 10A-1-8.02, 10A-1-8.03, 0A-1-9.21, 10A-1-9.22, 10A-5A-1.02, 10A-5A-1.06, 10A-9A-1.07, 10A-17-1.02 am'd.

Description

Under existing law, the Alabama Partnership Act governs the formation, powers, governance, and dissolution of partnerships in the state.

This bill would revise the Alabama Partnership Act and would specify that the procedures for formation, powers, governance, and dissolution are applicable to limited liability limited partnerships, limited liability partnerships, foreign limited liability partnerships, and foreign limited liability partnerships that function in the state. This bill would make conforming changes elsewhere in the business entities law.

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Subjects

Business Entities