MSBA Legislative Update Important Hearing Scheduled on Changes to LLC Law Over the past summer and fall, a number of individuals have been working diligently to create a comprehensive amendment to LD 1580, a bill proposing a number of changes to Maine's LLC law. The Judiciary Committee has scheduled a public hearing to be held on Tuesday, February 9 at 1:00 p.m. in room 438 of the State House. The intent of the amendment is to replace the existing Limited Liability Act with a new LLC act. The public hearing before the Judiciary Committee is to hear testimony and comments regarding the proposed amendment to the bill. The text of the amendment is posted on the MSBA website at http://www.mainebar.org/legislative/LLCActDraft-2-1-10.pdf. Members of MSBA's Business Section have been working extremely hard on this amendment and any questions can be directed to the Section which is chaired by Christopher Smith of Verrill Dana (csmith@verrilldana.com).

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