MEMORANDUM

       TO:           Drafting Committee for the
Record Owners of Business Act

FROM:           William H. Clark, Jr.

   DATE:           June 1, 2008

        RE:           Materials for June 7, 2008 Meeting

                                                                                                                                                           

 

 

            Accompanying this memo is a new draft of the proposed changes to the various uniform unincorporated entity laws providing increased transparency regarding the ownership and control of entities.  The draft reflects discussions at the annual meeting of the International Association of Commercial Administrators on May 20, 2008 and at a meeting of a task force of the National Conference of State Legislatures on May 16, 2008.  Also accompanying this memo is a draft of corresponding changes to the Model Business Corporation Act which will be discussed at a meeting of the Committee on Corporate Laws of the ABA Section on Business Law on June 13 and 13, 2008.

 

            Most of you are probably aware of the legislation recently introduced by Senators Levin, Coleman, and Obama to promote transparency in the entity formation process.  In case you have not seen it, I have included a copy with the accompanying materials.

 

            At the meeting this Saturday we will begin with a review of the proposed amendments to the Uniform Limited Liability Company Act.  To the extent time permits, we will then review the proposed amendments to the other uniform unincorporated entity laws included in the accompanying draft.

 

            I look forward to seeing you on Saturday.

 

                                                                                    W.H.C.,Jr.