Press release: “The Uniform Limited Liability Company Act (ULLCA), a new act which provides the states with modern, updated legislation governing the formation and operation of limited liability companies, was approved today by the American Bar Association’s House of Delegates at its Annual Meeting in San Francisco. The new uniform law, drafted and approved by the Uniform Law Commission (ULC) in 2006, is a revision of the Uniform Limited Liability Company Act of 1996. The new act, like its predecessor, permits the formation of limited liability companies (LLCs), which provide the owners with the advantages of both corporate-type limited liability and partnership tax treatment…The Uniform Limited Liability Company Act is available for introduction and adoption by all the states. A copy of the act can be found at the ULC’s website.”