Limited liability company--Organization--Effective date

(a) Before January 1, 1999, this chapter governs only a limited liability company organized: (1) After the effective date of this chapter, unless the company is continuing the business of a dissolved limited liability company.; (2) Before the effective date of this chapter, which elects, as provided by subsection (b), to be governed by this chapter. (b) Before January 1, 2004, a limited liability company existing before the effective date of this chapter may voluntarily elect, in the manner provided in its operating agreement or by law for amending the operating agreement, to be governed by this chapter. (c) On and after January 1, 2004, this chapter governs all limited liability companies. Source: SL 1998, ch 272, § 1205.