Posted On: June 7, 2011
Governor signs bill to overturn Olmstead decision
On May 13th, I wrote about a bill that would effectively overturn the Florida Supreme Court's Olmstead decision. It would not allow a creditor of one member to foreclose upon a multi-member LLC's membership interest. However, it would set up procedures for a creditor to foreclose upon a single member LLC's membership interest.
I'm happy to announce that Governor Scott signed House Bill 253. The law states that it is to become effective immediately as it is a clarification of current law only.
To learn more about how a LLC could help protect you, please contact our Jacksonville and Ponte Vedra Beach law firm of Wood, Atter & Wolf, P.A.
