SENATE BILL REPORT

                   SB 5109

              As Passed Senate, February 21, 1997

Title:  An act relating to the dissolution of limited liability companies caused by the loss of members.

Brief Description:  Dissolving limited liability companies.

Sponsors:  Senators Roach and Johnson.

Brief History:

Committee Activity:  Law & Justice:  1/27/97, 2/5/97 [DP].

Passed Senate, 2/21/97, 36-13.

SENATE COMMITTEE ON LAW & JUSTICE

Majority Report:  Do pass.

  Signed by Senators Roach, Chair; Fairley, Hargrove, Haugen, Kline, Long, McCaslin, Stevens and Zarelli.

Staff:  Mal Murphy (786-7412)

Background:  The Limited Liability Company Act currently provides that a limited liability company is dissolved if the number of its members falls below two and additional members are not admitted within 90 days.

Summary of Bill:  Formation and operation of one-member limited liability companies is authorized.

Appropriation:  None.

Fiscal Note:  Not requested.

Effective Date:  Ninety days after adjournment of session in which bill is passed.

Testimony For:  None.

Testimony Against:  None.

Testified:  No one.