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Alabama – House Bill 2 (Act No. 2014) enacts new Limited Liability Company Law of 2014, effective January 1, 2015

House Bill 2 (Act No. 2014-144) signed by the governor March 11 and effective January 1, 2015 enacted the Alabama Limited Liability Company Law of 2014 which until January 1, 2017 would govern only (i) LLCs formed after January 1, 2015, and (ii) LLCs formed prior to January 1, 2015 that elect to be subject to the provisions of the act, and after January 1, 2017, the new act would govern all LLCs.  The bill text can be accessed at the legislature website.