MSBA Legislative Update February 5, 2010 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 Law Section have been working extremely hard on this amendment. Any questions may be directed to the Section which is chaired by Christopher Smith of Verrill Dana (csmith@verrilldana.com). UPCOMING ISSUES LD 192 (index minimum wage) – Public Hearing is February 18, 2010 at 1:00 p.m. in Room 220 of the Cross Office Building. LD 1554 (document fees at registries of deeds) – Work Session is February 10, 2010 at 10:00 a.m. in Room 216 of the Cross Office Building. LD 1580 (Maine limited liability company act) – Public Hearing is February 9, 2010 at 1:00 p.m. in Room 438 of the State House. LD 1602 (child abuse or neglect substantiation) – Public Hearing is February 18, 2010 at 1:00 p.m. in Room 209 of the Cross Office Building. LD 1608 (administrative law judges) – Work Session is February 11, 2010 at 1:00 p.m. in Room 208 of the Cross Office Building. LD 1714 (information maintained by registries of deeds) – Work Session is February 11, 2010 at 1:15 p.m. in Room 438 of the State House. LD 1717 (municipal clean energy programs) – Work Session is February 9, 2010 at 1:00 p.m. in Room 211 of the Cross Office Building. LD 1738 (duty to report serious injury) – Work Session is February 11, 2010 at 1:15 p.m. in Room 438 of the State House. LEGISLATIVE DATABASE We have linked to an updated copy of your Legislative Database. We recommend you read the database carefully, because a number of legislative proposals have been introduced, with public hearings and work sessions already scheduled. Click here to open the database. REGULATORY DATABASE We have linked to an updated Regulatory Database highlighting any changes in new proposed or newly adopted rules of interest to MSBA. Click here to open the Regulatory Database. As always, please don’t hesitate to contact us if you have any questions: Pattie Aho at 207-622-6311 or paho@pierceatwood.com